New York City-based ElderServe Health, which does business as RiverSpring Health Plans, has more than 20,000 members in Medicaid long-term care programs and Medicare Advantage special needs plans. ElderServe primarily serves elderly or disabled individuals eligible for Medicaid and Medicare, according to a March 4 CareSource news release shared with Becker’s.
RiverSpring Living, ElderServe Health’s care delivery arm, will split from ElderServe when it is acquired by CareSource and will continue providing residential and assisted living services at its Riverdale, N.Y., campus, according to the release.
The deal is subject to regulatory approval.
Dayton, Ohio-based CareSource has completed several other acquisitions in the past few months. In January, the nonprofit insurer closed the purchase of Common Ground Healthcare Cooperative, a Wisconsin insurer.
CareSource acquired another older-adult focused organization, Radiant Alliance, in November 2024. Radiant provides long term care for people with chronic illness or end-of-life care, and affordable housing services for older adults.
The need for long-term services will triple by 2050, CareSource CEO Erhardt Preitauer said in the release.
“Growing our family of brands allows us to deepen our collective impact by improving quality of life and health outcomes for some of the most vulnerable populations in our country,” he said.
CareSource has more than 2 million members in Medicaid, Medicare and individual plans.
