Life & Health Insurance M&A » By The Online Investor Staff, updated Fri., Jun. 9, 7:26 AM
Recent mergers and acquisitions in the Life & Health Insurance M&A category.
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Slide #46. WellCare Health Plans, Inc. — UnitedHealthcare's Medicaid business in South Carolina
Acquirer:
WellCare Health Plans, Inc. (WCG)
Acquiree:
UnitedHealthcare's Medicaid business in South Carolina (UNH)
Details:
WellCare Health Plans, Inc. announced that it has entered into an agreement to acquire UnitedHealthcare's Medicaid business in South Carolina from UnitedHealth Group. The transaction is subject to regulatory approvals, and WellCare anticipates that the transaction will close during the fourth quarter of 2012. As of October 2012, UnitedHealthcare's Medicaid business in South Carolina serves approximately 65,000 Medicaid members in 39 of the state's 46 counties, including the Columbia and Greenville metropolitan areas, through the South Carolina Healthy Connections Choices program. It has a network that includes more than 30 hospitals, 1,800 primary care physicians, and 2,000 specialists.
WellCare Health Plans is a holding company. Through its subsidiaries, Co. is a managed care company and focuses primarily on providing government-sponsored managed care services to families, children, seniors and individuals with complex medical needs primarily through Medicaid, Medicare Advantage and Medicare Prescription Drug Plans, as well as individuals in the Health Insurance Marketplace. Medicaid provides medical assistance to elderly, disabled, children and their families. The Medicare program provides health care coverage primarily to individuals age 65 or older as well as to individuals with certain disabilities and consists of four parts, labeled A through D.
Open the WCG Page at The Online Investor »
WellCare Health Plans is a holding company. Through its subsidiaries, Co. is a managed care company and focuses primarily on providing government-sponsored managed care services to families, children, seniors and individuals with complex medical needs primarily through Medicaid, Medicare Advantage and Medicare Prescription Drug Plans, as well as individuals in the Health Insurance Marketplace. Medicaid provides medical assistance to elderly, disabled, children and their families. The Medicare program provides health care coverage primarily to individuals age 65 or older as well as to individuals with certain disabilities and consists of four parts, labeled A through D.
Open the UNH Page at The Online Investor »
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