HMAA to acquire Summerlin's Hawaii health care insurance business
A health care plan headed by John Henry Felix would acquire the health insurance membership of Summerlin Life and Health Insurance of Hawaii under a definitive agreement signed by the two companies.
The purchase will add about 22,000 members to Hawaii Medical Assurance Association, bringing the number of people it covers to about 48,000 in the state.
Felix, a former City Council member, and chairman, president and chief executive officer of the HMAA, said the acquisition would increase the company’s presence and give its existing members more health plan choices.
Summerlin said it decided to sell the business and instead focus on its operations that provide administrative services to union and other self-funded employee benefit health plans. That business, operated as HMA Inc., will continue to operate here.