Molina Healthcare Makes 2012 Fortune 500 List
This Is A First For The Long Beach-based Company
By Tiffany Rider - Staff Writer
May 8th - Molina Healthcare made its debut on the 2012 FORTUNE 500 list, the magazine’s catalog of the largest U.S.-based companies ranked by revenue.
According to FORTUNE, the managed care organization had revenues of approximately $4.8 billion in 2011, with profits of $20.8 million. The company is the only Long Beach-based corporation to make the cut, snagging the list’s 500th spot.
“More than 30 years ago, Molina Healthcare started with a single clinic and a commitment,” said J. Mario Molina, CEO of Molina Healthcare, in a statement. “That commitment was to provide better health care to those most in need and least able to afford it. Today, we are proud to have expanded from that one neighborhood clinic to approximately 1.8 million members in 10 states. I am pleased with our management team and our employees, who have worked hard to help shape and grow our company. I would also like to thank our state agency partners for working with us to serve the Medicaid beneficiaries in their communities. We are indeed honored to be included on this renowned list for the first time and are excited and optimistic about our future.”
Molina Healthcare became a publicly traded company in 2003, valued at that time at $500 million. The health organization that provides services to more than four million individuals and families on Medicare, Medicaid and other government health programs. For more information, visit www.molinahealthcare.com.