Proposed Acquisition of Control of Quartz Health Insurance Corporation by SummitOne Enterprises, Inc.

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​​​​​​Last Updated: October 20, 2023​​​

Information on the Acquisition of Control of Quartz Health Insurance Corporation

​This Transaction did not close.​​

On April 18, 2023, SummitOne Enterprises, Inc. (“SummitOne", the “Applicant"), submitted a Form A filing in the matter of the acquisition of control of Quartz Health Plan Corporation (“QHPC"), Quartz Health Insurance Corporation (“QHIC"), and Quartz Health Benefit Plans Corporation (“QHBPC", and together with QHPC and QHIC the “Domestic Insurers").  The acquisition of control will occur pursuant to the Definitive Agreement, dated March 30, 2023, by and between Iowa Health System d/b/a UnityPoint Health (“UPH"), and Presbyterian Healthcare Services (“PHS").  Through the Definitive Agreement, UPH and PHS will combine their respective healthcare groups by the creation of SummitOne. 

The applicants filed the following documents with the OCI

• Transmittal Letter
  
• ​Form A Filing
  
• Definitive Agreement (Redacted)
  
• Definitive Agreement (Unredacted) [CONFIDENTIAL]
• Pre-Transaction Organizational Chart 
  
• Post-Transaction Organizational Chart 
  
• List of Executive Officers and Directors - Domestic Insurers 
  
• List of Executive Officers and Directors - UPH​
  
• List of Executive Officers and Directors - SummitOne 
  
• Audited Financial Statements of UPH for the Five Fiscal Years Ended December 31, 2017 to December 31, 2021 
  
• Quarterly Financial Statements of UPH for the Quarter Ended March 31, 2023 [CONFIDENTIAL]
• Audited Financial Statements of PHS for the Five Fiscal Years Ended December 31, 2017 to December 31, 2021 
  
• Quarterly Financial Statements of PHS for the Quarter Ended March 31, 2023 [CONFIDENTIAL]
• Confidential Supplement Cover Letter 
  
• Second Confidential Supplement Cover Letter 
  
• Biographical Affidavits of the Executive Officers and Directors – Domestic Insurers [CONFIDENTIAL]
• Biographical Affidavits of the Executive Officers and Directors – SummitOne [CONFIDENTIAL]
• Three-Year Financial Projections – Domestic Insurers [CONFIDENTIAL]
• Business Plan - Domestic Insurers [CONFIDENTIAL]

Hearing Documents

• Notice of Hearing Notification 
  
• Notice of Hearing 
  
• List of Exhibits 
  
• Recommendation Memo 
  
• Prehearing Testimony - Applicant 
  

Proposed Decision

• Proposed Decision Notification 
  
• Proposed Decision 
  
• Waiver of Right to Object - Domestic 
  
• Waiver of Right to Object - Applicant​ 
  

• ​Final Decision Notification 
  
• Final Decision