<SEC-DOCUMENT>0001157523-17-001358.txt : 20170502
<SEC-HEADER>0001157523-17-001358.hdr.sgml : 20170502
<ACCEPTANCE-DATETIME>20170502163237
ACCESSION NUMBER:		0001157523-17-001358
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170502
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170502
DATE AS OF CHANGE:		20170502

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MOLINA HEALTHCARE INC
		CENTRAL INDEX KEY:			0001179929
		STANDARD INDUSTRIAL CLASSIFICATION:	HOSPITAL & MEDICAL SERVICE PLANS [6324]
		IRS NUMBER:				134204626
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31719
		FILM NUMBER:		17805527

	BUSINESS ADDRESS:	
		STREET 1:		200 OCEANGATE, SUITE 100
		CITY:			LONG BEACH
		STATE:			CA
		ZIP:			90802
		BUSINESS PHONE:		5624353666

	MAIL ADDRESS:	
		STREET 1:		200 OCEANGATE, SUITE 100
		CITY:			LONG BEACH
		STATE:			CA
		ZIP:			90802
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51551701.htm
<DESCRIPTION>MOLINA HEALTHCARE, INC. 8-K
<TEXT>
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      <font style="font-family: Times New Roman; font-size: 10pt">UNITED STATES</font><font style="font-family: Times New Roman; font-size: 10pt"><br style="font-family: Times New Roman; font-size: 10pt"></font><font style="font-family: Times New Roman; font-size: 10pt">SECURITIES
      AND EXCHANGE COMMISSION</font><font style="font-size: 10pt"><br style="font-size: 10pt"></font><font style="font-family: Times New Roman; font-size: 10pt">Washington,
      D.C. 20549</font><br><font style="font-family: Times New Roman"><b>______________</b></font><br><br><font style="font-family: Times New Roman; font-size: 14pt"><b>FORM
      8-K</b></font><br><br><font style="font-family: Times New Roman"><b>______________</b></font><br>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Current
      Report</b></font><br>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Pursuant
      to Section 13 or 15(d) of The Securities Exchange Act of 1934</b></font><br>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt">Date of
      Report (Date of earliest event reported): May 2, 2017 (May 2, 2017)</font><br><font style="font-family: Times New Roman"><b>______________</b></font><br>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 14pt"><b>MOLINA
      HEALTHCARE, INC.</b></font><br><font style="font-family: Times New Roman; font-size: 10pt">(Exact
      name of registrant as specified in its charter)</font><br><br>
    </p>
    <div style="text-align:center">
    <table style="font-size: 10pt; margin-left:auto;margin-right:auto; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="text-align: center; width: 33%; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Delaware</b>
          </p>
        </td>
        <td style="text-align: center; width: 34%; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>1-31719</b>
          </p>
        </td>
        <td style="text-align: center; width: 33%; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>13-4204626</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; width: 33%; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or other jurisdiction of<br>incorporation)
          </p>
        </td>
        <td style="text-align: center; width: 34%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission File Number)
          </p>
        </td>
        <td style="text-align: center; width: 33%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (I.R.S. Employer Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <font style="font-family: Times New Roman"><b>______________</b></font><br>
    </p>
    <p style="text-align: center">
      <b>200 Oceangate, Suite 100, Long Beach, California 90802</b><br>(Address
      of principal executive offices)<br><br>Registrant&#8217;s telephone number,
      including area code:<b> (562) 435-3666</b><br>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <p>
      Indicate by check mark whether the registrant is an emerging growth
      company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405
      of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
      (&#167;240.12b-2 of this chapter).
    </p>
    <p>
      Emerging growth company&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: Arial Unicode MS; font-size: 12pt">&#8414;</font>
    </p>
    <p>
      If an emerging growth company, indicate by check mark if the registrant
      has elected not to use the extended transition period for complying with
      any new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: Arial Unicode MS; font-size: 12pt">&#8414;</font>
    </p>
    <p style="margin-left: 30.0px">

    </p>
    <hr style="text-align: center; height: 2.0 pt; width: 100%; color: #000000">
    <hr style="text-align: center; height: 1.0 pt; width: 100%; color: #000000">


    <p>

    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      <b>Item 5.02. &#160;Departure of Directors or Certain Officers; Election of
      Directors; Appointment of Certain Officers; Compensatory Arrangements of
      Certain Officers.</b>
    </p>
    <p style="white-space: nowrap">
      <b>(b) and (c):&#160;&#160;Termination and Appointment of Officers</b>
    </p>
    <p>
      On May&#160;2, 2017, the Board of Directors (the &#8220;Board&#8221;) of Molina
      Healthcare, Inc. (the &#8220;Company&#8221;) terminated the employment of Dr. J.
      Mario Molina, the Company&#8217;s then President and Chief Executive Officer,
      and John C. Molina, the Company&#8217;s then Chief Financial Officer and
      Treasurer, without cause by written notice under the terms of their
      respective employment agreements with the Company.&#160;&#160;The terminations
      were effective immediately and will entitle Dr. Molina and Mr. Molina to
      severance benefits as set forth in and subject to the terms and
      conditions of their respective employment agreements and, in the case of
      acceleration and vesting of all previously granted equity compensation
      as provided for in their respective employment agreements, subject to
      the terms of applicable award agreements and, with respect to grants of
      time-based and performance-based equity compensation granted in 2017,
      subject to approval by the Company&#8217;s stockholders of the amendment and
      restatement of the Molina Healthcare, Inc. 2011 Equity Incentive Plan at
      the Company&#8217;s upcoming annual meeting. &#160;&#160;Dr. Molina and Mr. Molina will
      continue to serve as directors on the Board, and Dr. Molina remains a
      candidate for re-election as a director at the Company&#8217;s upcoming annual
      meeting.&#160;&#160;The Board has approved the adjournment of the upcoming annual
      meeting from Wednesday, May 3, 2017 to Wednesday, May 10, 2017 at 10:00
      a.m. Pacific Time, at Molina Healthcare, Inc. Corporate Headquarters,
      200 Oceangate, 15th Floor, Long Beach, California 90802 in order to
      allow stockholders time to consider the information described in the
      press release attached hereto as Exhibit 99.1 and the information set
      forth in this Current Report on Form 8-K and a proxy supplement to be
      filed by the Company, and to change their votes if desired.&#160;&#160;The record
      date for the meeting will remain March 9, 2017.
    </p>
    <p>
      In connection with the terminations of Dr. Molina and Mr. Molina, the
      Board appointed Joseph W. White as Chief Financial Officer and Treasurer
      and Interim President and Chief Executive Officer, effective
      immediately.&#160;&#160;Mr. White will serve as the Company&#8217;s principal financial
      officer and principal accounting officer and interim principal executive
      officer for purposes of the Securities Exchange Act of 1934, as
      amended.&#160;&#160;Mr. White will no longer serve as the Company&#8217;s Chief
      Accounting Officer.&#160;&#160;The position of Chief Accounting Officer will
      remain vacant following Mr. White&#8217;s resignation until further action by
      the Board.&#160;&#160;The Board will immediately commence the search process for a
      permanent CEO. In addition, the Board has named current Director Dale B.
      Wolf as Non-Executive Chairman of the Board.&#160;&#160;These changes are
      effective immediately.&#160;&#160;
    </p>
    <p>
      The compensation that Mr. White will receive in his role as Chief
      Financial Officer and Treasurer and Mr. Wolf in his role as
      Non-Executive Chairman of the Board has not yet been determined, and an
      amendment to this Current Report on Form 8-K will be filed at a later
      date to disclose such compensation when a determination has been made.
    </p>
    <p>
      The information required by Items 401(b), (d), and (e) of Regulation S-K
      (17 CFR 229.401(b), (d), (e)) regarding Mr. White was previously
      reported in the Company&#8217;s Annual Report on Form 10-K, filed with the
      Commission on March 1, 2017, and in the 2017 Proxy Statement, and is
      incorporated herein by reference. There are no arrangements or
      understandings between Mr. White and any other person pursuant to which
      he was appointed as the Company&#8217;s Chief Financial Officer and Treasurer
      and Interim Chief Executive Officer. There is no family relationship
      between or among Mr. White and any director, executive officer, or
      person nominated or chosen by the Company to become a director or
      executive officer of the Company. The Company has not entered into any
      transactions with Mr. White that would require disclosure pursuant to
      Item 404(a)&#160;of Regulation S-K under the Exchange Act.
    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      <b>Item 7.01. &#160;Regulation FD Disclosure.</b>
    </p>
    <p>
      A copy of the press release relating to Dr. Molina&#8217;s termination as
      President and Chief Executive Officer, Mr. Molina&#8217;s termination as Chief
      Financial Officer and Treasurer, and Mr. White&#8217;s resignation as Chief
      Accounting Officer and appointment as Chief Financial Officer and
      Treasurer and Interim Chief Executive Officer, among other matters, is
      attached hereto as Exhibit 99.1.
    </p>
    <p>
      Note: The information furnished herewith pursuant to Item 7.01 of this
      current report shall not be deemed to be &#8220;filed&#8221; for the purpose of
      Section 18 of the Exchange Act or otherwise subject to the liabilities
      of that section, and shall not be incorporated by reference into any
      registration statement or other document filed by the Company under the
      Securities Act of 1933, as amended, or the Exchange Act, except as shall
      be expressly set forth by specific reference in such filing.
    </p>
    <p style="white-space: nowrap">
      <b>Item 9.01.&#160;&#160;Financial Statements and Exhibits.</b>
    </p>
    <p style="white-space: nowrap">
      <b>(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits:</b>
    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Exhibit</b>
          </p>
        </td>
        <td style="width: 92%">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; width: 8%; padding-left: 0.0px" valign="top">
          <b>No.</b>
        </td>
        <td style="text-align: left; width: 92%; padding-left: 0.0px" valign="top">
          <b>Description</b>
        </td>
      </tr>
      <tr>
        <td style="width: 8%">

        </td>
        <td style="text-align: left; width: 92%; padding-left: 0.0px" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; width: 8%; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="top">
          99.1
        </td>
        <td style="text-align: left; width: 92%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Press release of Molina Healthcare, Inc. dated May 2, 2017.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURE</b></font>
    </p>
    <p style="text-align: left; text-indent: 30.0px">
      <font style="font-family: Times New Roman; font-size: 10pt">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
    <p style="text-indent: 30.0px">
      <br>

    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            MOLINA HEALTHCARE, INC.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; width: 5%; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Date:
        </td>
        <td style="text-align: left; width: 45%; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          May 2, 2017
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; text-align: left; width: 3%; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="top">
          By:
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; text-align: left; width: 47%; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>/s/ Jeff D. Barlow</i>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Jeff D. Barlow
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Chief Legal Officer and Secretary
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <b>EXHIBIT&#160;INDEX</b><br><br>
    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="text-align: left; width: 8%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Exhibit</b>
          </p>
        </td>
        <td style="width: 92%">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; width: 8%; padding-left: 0.0px" valign="top">
          <b>No.</b>
        </td>
        <td style="text-align: left; width: 92%; padding-left: 0.0px" valign="top">
          <b>Description</b>
        </td>
      </tr>
      <tr>
        <td style="width: 8%">

        </td>
        <td style="text-align: left; width: 92%; padding-left: 0.0px" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; width: 8%; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="top">
          99.1
        </td>
        <td style="text-align: left; width: 92%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Press release of Molina Healthcare, Inc. dated May 2, 2017.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51551701ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <title></title>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Molina
      Healthcare Announces Leadership Changes</b></font>
    </p>
    <p style="text-align: center">
      <i><font style="font-family: Times New Roman; font-size: 12pt"><b>CAO
      Joseph W. White Named Interim CEO and Appointed CFO</b></font></i>
    </p>
    <p style="text-align: center">
      <i><font style="font-family: Times New Roman; font-size: 12pt"><b>Board
      Initiates Permanent CEO Search</b></font></i>
    </p>
    <p style="text-align: center">
      <i><font style="font-family: Times New Roman; font-size: 12pt"><b>Dale
      B. Wolf Named Chairman of the Board</b></font></i>
    </p>
    <p style="text-align: center">
      <i><font style="font-family: Times New Roman; font-size: 12pt"><b>Pre-Releases
      First Quarter 2017 GAAP Net Income Per Share</b></font></i>
    </p>
    <p>
      LONG BEACH, Calif.--(BUSINESS WIRE)--May 2, 2017--Molina Healthcare,
      Inc. (NYSE: MOH) today announced leadership changes, under which Joseph
      W. White, Chief Accounting Officer, has been named Interim President and
      Chief Executive Officer replacing Dr. J. Mario Molina. The Board will
      immediately commence the search process for a permanent CEO. Mr. White
      has also been named Chief Financial Officer, replacing John C. Molina.
      In addition, the Board of Directors has named current Director Dale B.
      Wolf as Non-Executive Chairman of the Board. These changes are effective
      immediately. Dr. J. Mario Molina and John C. Molina will continue to
      serve as directors on the Board, and Dr. Molina remains a candidate for
      re-election as a director at the Company&#8217;s upcoming annual meeting.
    </p>
    <p>
      &#8220;The Board of Directors appreciates Mario and John Molina&#8217;s leadership
      and contributions for more than two decades,&#8221; said Dale B. Wolf,
      Chairman. &#8220;In light of the Company&#8217;s disappointing financial
      performance, the Board has determined to change leadership in order to
      drive profitability through operational improvements. These changes
      represent targeted and deliberate actions to enhance the Company&#8217;s focus
      and improve its competitive position within the healthcare industry.
      With the industry in dynamic transition, the Board believes that now is
      the right time to bring in new leadership to capitalize on Molina&#8217;s
      strong franchise and the opportunities we see for sustained growth. The
      Board is committed to achieving operational excellence and improving the
      Company&#8217;s financial performance on behalf of our shareholders, more than
      20,000 employees and our over 4 million members.&#8221;
    </p>
    <p>
      The Board has approved the adjournment of the annual meeting from
      Wednesday, May 3 to Wednesday, May 10, 2017 at 10:00 a.m. Pacific Time,
      at Molina Healthcare, Inc. Corporate Headquarters, 200 Oceangate, 15th
      Floor, Long Beach, California 90802 in order to allow stockholders time
      to consider the information described in this press release and the
      additional information that will be set forth in a Form 8-K and a proxy
      supplement to be filed by the Company, and to change their votes if
      desired. The record date for the meeting will remain March 9, 2017.
    </p>
    <p>
      Mr. White has over 25 years of financial management experience in the
      healthcare industry, and served as Molina Healthcare&#8217;s Chief Accounting
      Officer since June 2003. Mr. White has led the Company&#8217;s most recent
      operational improvement initiatives and is a widely respected leader
      both within the Company and in the greater healthcare industry. Prior to
      joining Molina, Mr. White was the Chief Financial Officer of Maxicare
      Health Plans, Inc., where he was also a member of the Board of Directors.
    </p>
    <p>
      After market close today, the Company will report net income per diluted
      share of $1.37 (inclusive of receipt of a $75 million ($0.84 per diluted
      share) acquisition break-up fee).
    </p>
    <p>
      <b>Earnings Conference Call</b>
    </p>
    <p>
      Management will host a conference call and webcast to discuss Molina
      Healthcare&#8217;s first quarter results at 5:00 p.m. Eastern time on Tuesday,
      May 2, 2017. The number to call for the interactive teleconference is
      (212) 231-2909. A telephonic replay of the conference call will be
      available from 7:00 p.m. Eastern time on Tuesday, May 2, 2017, through
      6:00 p.m. Eastern Time on Wednesday, May 3, 2017, by dialing (800)
      633-8284 and entering confirmation number 21849898. A live audio
      broadcast of Molina Healthcare&#8217;s conference call will be available on
      our website, molinahealthcare.com. A 30-day online replay will be
      available approximately an hour following the conclusion of the live
      broadcast.
    </p>
    <p>
      <b>About Molina Healthcare, Inc.</b>
    </p>
    <p>
      Molina Healthcare, Inc., a FORTUNE 500 company, provides managed health
      care services under the Medicaid and Medicare programs and through the
      state insurance marketplaces. Through our locally operated health plans
      in 12 states across the nation and in the Commonwealth of Puerto Rico,
      Molina serves approximately 4.2 million members. Dr. C. David Molina
      founded our company in 1980 as a provider organization serving
      low-income families in Southern California. Today, we continue his
      mission of providing high quality and cost-effective health care to
      those who need it most. For more information about Molina Healthcare,
      please visit our website at molinahealthcare.com.
    </p>
    <p>
      <b>Safe Harbor Statement under the Private Securities Litigation Reform
      Act of 1995</b>
    </p>
    <p>
      This press release contains &#8220;forward-looking statements&#8221; regarding the
      transition in our executive and board leadership, opportunities for
      growth, and our financial performance. All forward-looking statements
      are based on current expectations that are subject to numerous risk
      factors that could cause actual results to differ materially. Such risk
      factors include, without limitation, risks related to the impact of our
      announced management and organizational changes; our ability to attract
      and retain qualified senior management and other personnel; the
      continued service and availability of key management personnel; market
      opportunities and our ability to capitalize on them; and economic,
      political, or regulatory conditions and other trends affecting the
      healthcare industry that are beyond the control of management.
      Additional information regarding the risk factors to which we are
      subject is provided in greater detail in our periodic reports and
      filings with the Securities and Exchange Commission, including our most
      recent Annual Report on Form 10-K. These reports can be accessed under
      the investor relations tab of our website or on the SEC&#8217;s website at
      sec.gov. Given these risks and uncertainties, we cannot give assurances
      that our forward-looking statements will prove to be accurate, or that
      any other results or events projected or contemplated by our
      forward-looking statements will in fact occur, and we caution investors
      not to place undue reliance on these statements. All forward-looking
      statements in this release represent our judgment as of the date hereof,
      and we disclaim any obligation to update any forward-looking statements
      to conform the statement to actual results or changes in our
      expectations that occur after the date of this release.
    </p>
    <p>
      CONTACT:<br>Sard Verbinnen &amp; Co<br>Meghan Gavigan/Paul Frankle<br>415-618-8750
    </p>
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