Click here to see the complete history of John C Molinas form 4 insider trades. Representatives of the citys four other hospitals with emergency departmentsMemorial, St. Mary, Lakewood Regional and Los Alamitostold the Post they experienced only a small uptick in patients after the MemorialCare closure and that the impact was minimal. Financial results are summarized below: . Our investigative journalism is funded in part by readers like you. no insider transaction in Molina Healthcare Inc (MOH). What is John Molina's Net Worth? the Director of Molina Healthcare Inc and owns about 2,346,497 shares of Molina Healthcare Inc (MOH) stock worth over $642 Million. John Molina is Chief Financial Officer of a Fortune 500 corporation based in Long Beach, Molina Healthcare, a company his father, C. David Molina founded more than 30 years ago. "So, there was never any pressure to become a . and In January 2021, after state approvals, the hospital finally reopened to take transfer patients from hospitals confronting COVID surges. But Community Hospital continued operating at a loss nearly every year, according to financial documents submitted annually by MemorialCare to the state. 2. We were hoping the city would do everything they could to save it.. But it did open and that was the goal the council wanted., Reporters:Kelly Puente and Brandon RichardsonEditor:Joel SappellExecutive editor:Melissa EvansLayout and design:Dennis Dean and Candice Wong, Community Hospital property must be offered to affordable housing developers, state says, MemorialCare Health System takes over as operators under new lease agreement with the city , A MemorialCare seismic study identifies exact scope and location of active fault line under property; health provider determines hospital is not viable under state regulations, City staff officially decline MemorialCare's proposal, MemorialCare closes hospital; city works to find new operator, State officials approve seismic compliance extension through January 2025, City signs lease with Molina Wu Network to reopen Community, Community reopens for transfer patients amid COVID-19 pandemic, Emergency department reopens to walk-in patients with 20 beds, City officials, community leaders and health professionals celebrate the reopening of Community Hospital, MWN announces impending closure of ER; unveils plan to convert facility into a mental health campus, ER stops accepting ambulance deliveries, City Council amends lease, ending acute care requirement; begins exploring new options for the property and begins negotiations to possibly sell the property to MWN to satisfy lease obligation, State informs city the property must be offered to affordable housing developers, citing 2019 law. We were all working under the assumption that this was going to work., Supernaw says that, by the time the lease was presented for a vote, it was a matter of take or leave itthis is what we have, this is what its going to take to get it done., But, he adds, I dont know of a real estate deal in history that doesnt have an element of risk. We knew there were big costs. 28, 2021-- Molina Healthcare, Inc. (NYSE: MOH) (the "Company") today reported second quarter of 2021 GAAP earnings per diluted share of $3.16 and adjusted earnings per diluted share of $3.40. , & Financial Affairs & Trustee & Molina Siblings Trust of Molina Healthcare Inc. Would not someone say, He [Molina] is going to walk away from this anyway? Wouldnt you think that statement would come up a few times? He currently resides in Puerto Rico. Molina Healthcare began as a family business and still is, to a large extent. Bob also served in leadership positions over Finance and Business Development, helping steer the growth of a company with 20,000 members operating in one state to an industry leader with 4.5 million members and nearly $20 billion in revenue, operating in multiple states. To avoid the costs, Bishop says, MemorialCare proposed closing the acute care hospital and opening a mental health facility, which would not require the seismic fixes. John also answers to John C Molina, and perhaps a couple of other names. Hours: 8:00AM - 5:00PM. One Golden Shore Drive Long Beach CA 90802 CA; But ultimately, like MemorialCare before him, Molina says it was the seismic repairs, which the state required to be completed by 2025, that sunk his efforts. . Who can help student-athletes cash in? Looking back, Councilman Daryl Supernaw, whose 4th District then included the hospital, says the economic team and other city officials failed to keep the council fully informed of the risks during the lease negotiations. They will remain on Molinas board. Molina's Medicaid plans receive revenue on a per-member per-month basis from state government agencies, and its Medicare Advantage plans receive revenue from managed care plans that contract with the Centers for Medicaid and Medicare (CMS). He says he lost $30 million, an amount the city is now attempting to verify before potentially parting with its 8.7-acre property. The co-trustee of two Molina family trusts is listed as owning an additional 17.4% of the company. At the time of the assessment, MWN consisted of four individuals, including John Molina and his physician brother, J. Mario Molina, who was overseeing a medical group called Golden Shore Medical and was Molina Healthcares former CEO. Insiders are limited to only officers and/or directors of the company. A determined legion of save our hospital stakeholders kept the pressure on at City Hall to make that happen. When the City Council met on the night of Oct. 15, 2019, to vote on the proposed MWN lease, the refrain from the dais and the audience was that a matter no less important than life and death was on the agenda. At that time, there was very little distinction between what was family life and what was work life.. If you do not agree with these terms, then do not use our website and/or services. We needed to hit 50. The best thing to do is believe in yourself even when others may not., According to John Molina, there were physicians at the hospital, people in the community, who told his father that he could not be successful taking care of the poor. He graduated with a Bachelor of Education, Honors Degree, in England, represented Great Britain at the International Olympic Academy in Athens/Olympia and was invited to California State University, Long Beach to lecture on the Pre-Modern Olympic Games. The company has tried to control costs by limiting its networks of doctors and hospitals, as well as sending members to its own clinics. They were more interested in us doing things exploring., Janet Molina-Watt and her husband have talked about what legacy they want to leave behind. Whats going on? PalacioMagazine.com is a multimedia digital platform featuring the stories of People of Color in an increasingly multicultural America. 2020-06-23, Los Angeles County Superior Courts | Labor | This case was filed in Los Angeles County Superior Courts, Governor George Deukmejian Courthouse located in Los Angeles, California. Lee based her conclusion on a lease analysis prepared by the citys Economic Development Department. Raised in Orange County, Michelle has been in Long Beach for over 20 years where she currently lives with her two children and husband, John, CFO for Molina Healthcare. That no-bid contract, considered then to be worth $400 million, became controversial after Molinas application listed state Sen. Diane Watson (D-Los Angeles) on its board of directors. Phone: (562) 570-6099. DAVID TELLING TODD LEMMIS JON HEIMAN BOB GORDON KEVIN DAVIS JOHN MOLINA. They wanted us to read., Exploration was also important for the Molina family. The company offers to transport its members on free shuttles that not only get them to their doctors appointments, but stop at grocery stores, churches, laundromats and check-cashing stores. According to John Molina, it was expected that the children would work hard and that they would achieve the highest of their potential. I want to do more than that. The most active insiders traders include Williampedersen Curtismary , John C Molina e J Mario Md Molina. Everybody was trying to do everything they could to bring the hospital back.. In all, the city received interest from five companies to operate Community Hospital. If the carrier you wish to find is not in this list, revise your search string to be more specific and re-submit the query. Other transactions such as conversion of derivative security or exercise of options are not included. and US$792 million (2022) Total assets: US$12.31 billion (2022) Total equity: . Respondent and Defendant Attorney. Warmer storms could cause problems, Dramatic before and after photos from space show epic snow blanketing SoCal mountains. The company, for its part, would shoulder any losses above the propertys appraised market value, which, in 2018, was $17 million. Truncated Query In order to provide adequate performance for all users, the SAFER WWW System is designed to return a maximum of 500 matches on a carrier name search. On 11/07/2018 MICHELLE MOLINA filed a Property - Other Real Property lawsuit against JOHN MOLINA. Its a great franchise, Wolf told the analysts. The company cited financial performance for . Column: 15 minutes of fame flies by. In 2017, the last year MemorialCare operated Community Hospital, the average transport time was 7.3 minutes, according to fire officials. Industry Health Care Equipment & Services. Our reporting is free to read, with no paywalls or limits on the number of articles you can access, but it takes time and money to report stories like this. The company is a West Virginia Foreign Llc | Limited-Liability Company, which Most recently John sold 20,480 units of MOH stock worth $1,500,774 on 26 February 2018 . , The estimated Net Worth of John C Molina is at least $166 Milione dollars as of 26 February 2018. But Molina Healthcare was never far behind. As of 2022, John John Molina's net worth is $100,000 - $1M. Under Review. ; Notes: Appellant (3/17/2021 by Michelle Molina ) is in default for failure to file a Case Information Statement pursuant to California Rules of Court, Rule 8.100(g). This was clear from the get-go, says Modica, who calls the reopening effort successful., It opened and then it closed, he says. V.P. The largest trade John's ever made was selling 700,000 units of Molina Healthcare Inc stock on 24 March 2004 worth over $19,600,000. Bishop, now CEO of MemorialCares Long Beach campus, says small hospitals frequently operate at a loss but are subsidized by their larger parent companies. But his optimism for the hospitals future quickly got an infusion of reality as expenses began to mount. Our mission at the Long Beach Post and Long Beach Business Journal is to give the news impartially, without fear or favorwords famously written by the publisher of the New York Times in 1896. JOSE ADOLFO SALAZAR VS EAT GOOD STUFF INC., ET AL. All Rights Reserved. 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