WellCare to Sell to Centene for $17.3 Billion
March 27, 2019
Cleary Gottlieb is representing Goldman Sachs as financial advisor to WellCare Health Plans (WellCare) in the acquisition of WellCare by Centene Corp. (Centene).
Centene will acquire WellCare in a cash and stock transaction with an enterprise value of $17.3 billion. The merger agreement was signed on March 26, 2019, and is expected to close in the first half of 2020.
WellCare 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.