Long Beach-based Molina Healthcare Inc. said that its Michigan subsidiary has closed on its acquisition of HCLB Inc., the parent company of Cape Health Plan Inc.

The control of Cape Health Plan by Molina Healthcare of Michigan Inc. had previously been approved by the Office of Financial and Insurance Services of the Michigan Department of Labor and Economic Growth.

The completion of the transaction adds approximately 90,000 Medicaid members Molina Healthcare of Michigan’s enrollment and adds Monroe and St. Clair counties to the counties served. Molina will now serve approximately 155,000 members in southeastern Michigan and approximately 233,000 members statewide.

The acquisition is expected to contribute revenues in the range of $105 million to $108 million, or 4 to 6 cents per share, for the remainder of 2006.