Molina Healthcare

Molina Healthcare (NYSE: MOH) is a managed care company headquartered in Long Beach, California, United States. In 2015, Molina Healthcare was ranked 301 in Fortune 500. In 2015, the company's health plans served about 3.5 million people through government-based healthcare programs.

History

Molina Healthcare was founded in 1980 by C. David Molina, an emergency room physician in Long Beach, CA. He had seen an influx of patients using the emergency room for common illnesses such as a sore throat or the flu because they were being turned away by doctors who would not accept Medi-Cal. As a result of his emergency room work, Dr. Molina established his first primary care clinic with the goal of treating the lowest-income patients, regardless of their ability to pay.

The company is now run by Dr. Molina’s son, J. Mario Molina, MD, who is also a physician. He is the current president and CEO of the company. John Molina, Mario’s younger brother, is the current CFO of Molina Healthcare. The two took over the Molina’s operations after their father died in 1996 and continued to expand the company. According to SEC filings, in 2013 Dr. Mario Molina received total compensation of $11,903,124 and John Molina received $6,362,104. Altogether the top five executives at Molina Healthcare - J. Mario Molina, John C. Molina, Terry P. Bayer, Joseph W. White and Jeff D. Barlow - were paid a total of $26,425,047. C. David Molina’s daughter Martha Bernadett, MD is also a part of Molina Healthcare. Since receiving two Robert Wood Johnson Foundation awards in 2002, Dr. Bernadett has served as the Executive Vice President of Research and Innovation at Molina Healthcare. She founded the Molina Institute for Cultural Competency, Book Buddies and the Molina Foundation, a non-profit organization to promote access to education and health care to reduce disparities.