PacificSource Health Plans has acquired Clear One Health Plans, which now becomes a wholly owned subsidiary of PacificSource. The acquisition also includes Central Oregon Individual Health Solutions (COIHS), Trusteed Plans Service Corporation (TPSC), Clear Choice Properties, and Clear One Life and Health, subsidiaries of Clear One.

According to PacificSource, prior to closing of transaction it received a regulatory approval from all necessary state and federal agencies, including Oregon Insurance Division, Centers for Medicare & Medicaid Services, and Oregon Division of Medical Assistance Programs.

The company said that the staff reductions as a result of the acquisition would be minimal, with around 90% of Clear One staff being retained.

In addition, over the next few weeks, the company will consolidate its Bend office space, using existing Clear One office as its Central Oregon location. The Clear One sales office in Kalispell, MT and the TPSC office in Tacoma, WA will remain open as well.

In conjunction, the company has named Peter McGarry as acting senior vice president of government programs to oversee its Medicare and Medicaid lines. He is currently vice president of provider network for PacificSource, and will continue in that role as he oversees Clear One operations on an interim basis. Ken Provencher will replace Clear One president and CEO Patricia Gibford.

Ken Provencher, president and CEO of PacificSource, said: “The acquisition of Clear One, with their expertise in government programs, will allow us to be a true community health plan, providing health coverage to people throughout their lives. It will also help us to more effectively collaborate with healthcare providers to improve the quality of care.