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Denver-headquartered Melody Health Insurance has completed its acquisition of Alamosa-based Colorado Choice Health Plans and changed its name to Friday Health Plans.
The acquisition was closed on June 1 after receiving all regulatory approvals by the Colorado Division of Insurance and Attorney General's Office.
Following the deal, Colorado Choice will continue serving the San Luis Valley and other rural areas. It will expand to additional regions of Colorado pending approval by the Colorado Division of Insurance.
"We see this as a great opportunity to continue serving an important part of the state and to build on Colorado Choice's past success by expanding into new markets," said Sal Gentile, CEO of Friday Health Plans.
Cindy Palmer, CEO of Colorado Choice, added: "Colorado Choice has been proud to serve our members since 1972 in many Colorado counties where residents don't have a lot of health coverage options. Joining with Friday is a great opportunity to continue our mission locally and in new service areas."
Melody Health Insurance, M&A, Acquisition, Colorado Choice Health Plans, Friday Health Plans, US