CENTENE-WELLCARE DIVESTING MEDICAID PLANS IN TWO STATES TO ANTHEM
Centene is moving forward in its acquisition of WellCare and needs to satisfy regulatory requirements…
Anthem will buy Medicaid operations owned by WellCare Health Plans in Missouri and Nebraska as Centene ( NYSE: CNC ) offloads specific units to win the approval of its WellCare acquisition by regulators. Shareholders have already approved the acquisition of WellCare; Centene and WellCare are seeking approval of their deal from 26 states and the Department of Justice.
WellCare Is A Large Scale MCO
WellCare ( NYSE: WCG ) was founded in 1985 and is based in Tampa, Florida. It has a diverse group of managed care plans encompassing Medicaid, Medicare Advantage, and Medicare Prescription Drug plans. The organization has over 4.4 million members enrolled in its benefit programs nationwide.
Anthem BCBS is one of the largest health plans in the nation
Based in Indianapolis, Anthem ( NYSE: ANTM )operates Blue Cross Blue Shield plans in 14 states and is continuing to grow in the highly competitive managed care/health insurance market sector. Anthem is already ranked as the second-largest health insurance provider in the country and has been on the hunt for acquisitions to grow its businesses. Anthem will add 300,000 Medicaid members through its deal with Centene and WellCare.
Centene has steadily and successfully grown an impressive healthcare risk management enterprise
Centene, headquartered in Clayton, Missouri, committed over $15 billion to acquire WellCare early in 2019; acquisitions of this size are complex not only in terms of finance and operations but also as to how regulators may weigh in on them. Centene has been steadily growing and the WellCare acquisition is well suited to its business model. With the WellCare acquisition, they will have over 22 million covered lives enrolled in their plans.
Learn more about Centene by reading this article:
Moving forward; Centene and WellCare will be a formidable tandem
Centene has completed a long line of mergers and acquisitions over the last fifteen years. Their focus on Medicaid and Medicare is unique. While managed care organization mergers and acquisitions have been frequent, most of them avoid this sector based on its heavy regulation and lower margins. By dedicating themselves to this challenging business environment, Centene is successful and new competitors are less likely to enter the space as they recognize the lower profit and heavy administration burden barriers in place.
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