Regional health system Avera Health is buying the DAKOTACARE health insurance company, creating what it says will be the second-largest health insurer in South Dakota.
The two Sioux Falls-based companies announced their intent Thursday. They did not immediately disclose the purchase price.
Avera has been in the health insurance industry since 1999, with Avera Health Plans. With the addition of DAKOTACARE, Avera says it will serve nearly 200,000 members.
DAKOTACARE was created in 1986 by doctors and is the health care plan of the South Dakota Medical Association. Its provider network includes all of South Dakota’s hospitals and nearly all of the state’s physicians and pharmacies.
Avera plans to operate Avera Health Plans and DAKOTACARE as two separate organizations.
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