CareSource is set to acquire ElderServe Health, expanding its footprint in long-term care services. Based in New York City, ElderServe Health<\/a> operates as RiverSpring Health Plans and currently serves over 20,000 members through Medicaid long-term care programs and Medicare Advantage special needs plans. The organization primarily focuses on elderly and disabled individuals who qualify for both Medicaid and Medicare coverage.<\/p>\n As part of the acquisition agreement, RiverSpring Living, which functions as ElderServe Health’s care delivery division, will separate from ElderServe when CareSource completes the purchase. This division will maintain its independence and continue to provide residential and assisted living services at its campus located in Riverdale, New York. The acquisition remains pending, awaiting necessary regulatory approvals before finalization.<\/p>\n This acquisition represents just one of several strategic moves CareSource has made in recent months to strengthen its market position. In January, the Dayton, Ohio-based nonprofit insurance provider finalized its purchase of Common Ground Healthcare Cooperative, a Wisconsin-based insurer. Prior to that, in November 2024, CareSource acquired Radiant Alliance, an organization specializing in long-term care for individuals with chronic illnesses and end-of-life care, as well as affordable housing services tailored for older adults.<\/p>\n According to CareSource CEO Erhardt Preitauer, the need for long-term services is projected to triple by 2050, highlighting the strategic importance of these acquisitions. “Growing our family of brands allows us to deepen our collective impact by improving quality of life and health outcomes for some of the most vulnerable populations in our country,” Preitauer stated in the company’s announcement.<\/p>\n CareSource continues to build its presence in the healthcare sector with a substantial membership base exceeding 2 million individuals across its Medicaid, Medicare, and individual insurance plans. This latest acquisition further strengthens the company’s ability to address the growing needs of vulnerable populations requiring specialized long-term care services.<\/p>\n The consolidation trend in healthcare services for aging and vulnerable populations reflects broader industry recognition of demographic shifts and increasing demand for specialized care options. As the population ages, organizations with established expertise in these areas become valuable acquisition targets for companies looking to expand their service offerings and market reach.<\/p>\n With the ElderServe acquisition, CareSource positions itself to meet the anticipated surge in demand for long-term care services over the coming decades. This proactive approach to portfolio expansion demonstrates the company’s commitment to addressing evolving healthcare needs while strengthening its competitive position in the managed care marketplace.<\/p>\n Discover the latest payers’ news updates<\/strong><\/a> with a single click. Follow DistilINFO HealthPlan<\/a> and stay ahead with updates. Join our community today!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"OPERATIONAL RESTRUCTURING<\/h3>\n
EXPANDING PORTFOLIO<\/h3>\n
GROWING DEMAND<\/h3>\n
MARKET POSITION<\/h3>\n
INDUSTRY IMPLICATIONS<\/h3>\n
FUTURE OUTLOOK<\/h3>\n