Medical Mutual, an Ohio-based health insurance company, announced today that it will acquire Paramount Health, a subsidiary of ProMedica, a health system in Northwest Ohio. Paramount offers various health insurance plans in Ohio and Michigan.
The deal, which is expected to close by May 1, 2024, will strengthen Medical Mutual’s position as a trusted healthcare navigator in Ohio, according to Steve Glass, Medical Mutual’s President and CEO. He said both companies share a common vision to help people live healthier.
Arturo Polizzi, President and CEO of ProMedica, said they chose Medical Mutual as the new owner of Paramount because of its similar mission and commitment to community. He said Paramount Health employees will continue to provide exceptional service to members and employers under Medical Mutual.
Paramount will remain a wholly owned subsidiary of Medical Mutual and will continue to offer its high-quality health plans. There will be no immediate change to how current members do business with either company. Medical Mutual will also continue to deliver its own branded products and services in the Northwest Ohio area, which includes the ProMedica health system.
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