Harken Health, a subsidiary of UnitedHealth Group, has abandoned the Affordable Care Act exchange markets in Chicago and Atlanta, citing a loss of nearly $70 million in the first six months of the year.
Not only that, it's tossed its founding chief executive officer.
Modern Healthcare reports the experimental unit Harken Health began selling individual and group plans on and off the exchange in the two markets last January, and is reported to have approximately 35,000 members in those markets. In addition, earlier this month, it said that CEO Thomas Vanderheyden, a long-time UnitedHealth executive who helped establish the primary care-focused vision of the company, would be replaced by Stevan Garcia.
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