Minneapolis-based health care organization UCare announced in a joint statement Monday that Medica will be taking control of some existing plans as the nonprofit winds down operations.

Earlier this year, UCare cut Medicare Advantage plans , citing rising costs. In response, UCare says it began to explore "opportunities to transition its members to a community-focused, nonprofit organization with aligned missions."

The transaction, which is still subject to regulatory approval, is expected to close early next year.

"Combined, UCare and Medica have nearly a century of industry expertise and a shared commitment to community-driven coverage for those who need it most," Hilary Marden-Resnik, president and CEO of UCare, said. "This is a significant agreement that will enable us to preserv

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