Madison-based Wisconsin Physicians Service Insurance Corp. (WPS Health Insurance) has formed a new subsidiary that has purchased the assets of Prevea Health Plan, a Green Bay-based HMO licensed in 13 Wisconsin counties with 33,000 current members. The new subsidiary, WPS Health Plan Inc., has acquired the assets of Prevea Health Plan, which will change its name to WPS Prevea Health Plan. The assets were purchased from PHP Insurance Plan Inc., a wholly owned subsidiary of Prevea Health Services Inc. The purchase price was not disclosed. Prevea Health Plan staff members have become WPS Prevea Health Plan employees and will continue to operate out of the same office in Green Bay. Mark Minsloff will continue to lead the HMO as chief operating officer of WPS Prevea Health Plan. "Customers will not be inconvenienced by this acquisition," Minsloff said. "Prevea Health Plan customers will stay on their current plans and receive the same outstanding customer service they have come to expect. They can continue to see the same physicians, go to the same hospitals and clinics, call the same customer service phone numbers, and have their claims paid out of the same office by the same staff that existed before. There is tremendous enthusiasm and belief that WPS offers significant resources both financially and operationally that will carry the HMO to new heights and provide us a strong future." Minsloff added that the acquisition does not include or affect the current ownership or operations of Prevea Health Services, Prevea Health Network or Prevea Clinic. Bill Bathke, WPS executive vice president and chief operating officer, said, "We look forward to growing the HMO and providing the best services available to our clients."
WPS acquires Prevea Health Plan
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