Catholic Health Initiatives to acquire QualChoice Holdings

Posted: April 2, 2014 at 3:38 p.m.

Catholic Health Initiatives of Denver has reached an agreement to acquire QualChoice Holdings, Inc., Arkansas' second-largest health insurer.

Catholic Health Initiatives, one of the nation’s largest nonprofit health systems, operates St. Vincent Health System in Little Rock, which announced Tuesday its acquisition of Mercy Hot Springs hospital and a physicians clinic.

QualChoice Holdings is the parent company of QCA Health Plan, Inc., and headquartered in Little Rock. It announced the agreement Wednesday on its website.

The acquisition cannot go forward without the submission of an application to the state Insurance Department and a public hearing, said Insurance Commissioner Jay Bradford. The pending acquisition amount was not immediately disclosed.

Jack Weatherly contributed to this breaking news report. Read his full story in Thursday's Arkansas Democrat-Gazette.