Centene CEO Michael Neidorff said the company would bring in more than $100 billion in revenue after its acquisition of WellCare, which boosted its membership to 24 million. Centene still has yet to give guidance for the combined company in 2020, but expects to share those numbers in March.
The two health insurance companies signaled that they had met all regulatory requirements for the merger, including review by the Department of Justice. Centene plans to close the acquisition on Thursday.
In a landscape where complexity has long been the norm, the power of one lies not just in unification, but in intelligence and automation.
Patients with type 2 diabetes on WellCare of Georgia’s Medicaid plan will be able to receive the wearables as part of their plan starting in 2020.
While the shareholder vote is a major milestone, the deal still needs to get the approval of an additional 22 state regulators.
Centene's investment will drive growth at the New York-based company and expand access to behavioral health resources to traditionally underserved Medicaid patients, which make up a large portion of the insurer's membership base.
The Louisville-based insurer broke its long-standing no comment policy, citing "significant investor speculation and persistent market rumors."
Greenway Health blends smart technology with human expertise to elevate revenue cycle.
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.
A report in Reuters cited unnamed sources who said that two hedge funds with ownership stakes in Centene - Corvex Management LP and Sachem Head Capital Management - are looking to possibly oppose the Wellcare acquisition in favor of a deal with a larger player like Humana.
The combined company will have around 22.3 million members across all 50 states, ranking it as the fourth largest insurer in the country.
While one healthcare mega-merger clears its final regulatory hurdle, another one has a new barrier in the form of D.C. District Court Judge Richard Leon.
Alan Murray on improving access for medical transportation.