Melody Health Insurance plans to acquire Colorado Choice Health Plans

DENVER — Melody Health Insurance Inc. in Denver plans to acquire Colorado Choice Health Plans, a 45-year-old nonprofit based in Alamosa that has 2,500 customers in Larimer and Weld counties.

The deal is pending regulatory approval from the Colorado Division of Insurance and the Colorado Attorney General.

Colorado Choice will become a wholly owned for-profit subsidiary of Melody Health Insurance.

Terms of the deal were not disclosed, but Melody Health will provide capital for Colorado Choice to serve its membership while expanding into new markets.

“Colorado Choice has defied tremendous odds, growing successfully in a very challenging market, one where competitors have dropped out,”…