Medical Mutual set to acquire ProMedica insurance subsidiary

Cleveland-based Medical Mutual has announced its intent to purchase Paramount Health, a Northwest Ohio-based health insurance company owned by ProMedica.

Paramount, which offers Medicare Advantage, Individual ACA, commercial group and short-term insurance plans, is headquartered in Toledo and does business primarily in Ohio and Michigan.

Pending regulatory approval, the transaction is expected to close by May 1.

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