
Shareholders overwhelmingly approve Centene-WellCare merger
While the shareholder vote is a major milestone, the deal still needs to get the approval of an additional 22 state regulators.
While the shareholder vote is a major milestone, the deal still needs to get the approval of an additional 22 state regulators.
The Louisville-based insurer broke its long-standing no comment policy, citing "significant investor speculation and persistent market rumors."
Centene announced that current Wellcare CEO Ken Burdick and Wellcare executive vice president and CFO Drew Asher will join Centene in executive leadership positions reporting directly to Centene CEO Michael Neidorff.
The combined company will have around 22.3 million members across all 50 states, ranking it as the fourth largest insurer in the country.