logo
Plus   Neg
Share
Email

Five More States Approve Centene's Acquisition Of WellCare - Quick Facts

Centene Corp. (CNC) and WellCare Health Plans, Inc. (WCG) announced Friday that the insurance departments of Arizona, Connecticut, Georgia, Ohio and Texas have now also approved Centene's pending acquisition of WellCare, bringing the total number of states to approve the transaction to 24.

Completion of the transaction remains subject to clearance under the Hart-Scott-Rodino Act, receipt of the remaining required state regulatory approvals and other customary closing conditions.

In March 2019, Centene agreed to acquire WellCare in a cash and stock transaction for $305.39 per share for a total enterprise value of $17.3 billion to create a premier healthcare enterprise focused on government-sponsored healthcare programs and a leader in Medicaid, Medicare and the Health Insurance Marketplace.

Centene and WellCare continue to expect that the acquisition will be completed by the first half of 2020.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The European Commission said Friday that it has signed a deal with Sanofi and GlaxoSmithKline to secure up to 300 million doses of their potential COVID-19 vaccine. Acella Pharmaceuticals recalled certain lots of hypothyroidism medication NP Thyroid in the form of tablets due to super potency, the U.S. Food and Drug Administration said in a statement. The company is recalling one lot of 15mg and one lot of 120mg of NP Thyroid that are packaged in 100 count bottles in strengths of 15 mg, and 120 mg, with expiration dates between October 2020 and November 2020. Walmart announced its decision to raise wages for around 165,000 hourly associates across all its U.S. stores starting October, and introduce a team-based operating model in Supercenters. In a tweet, the retail giant said, "Today we're introducing new leadership roles and cross-training opportunities, giving our associates more ways to grow their careers."
Follow RTT