Image: Completion of the transaction remains subject to clearance under the Hart-Scott-Rodino Act. Photo: Courtesy of Tumisu from Pixabay.
Centene Corporation (NYSE: CNC) (“Centene”) and WellCare Health Plans, Inc. (NYSE: WCG) (“WellCare”) today announced 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.
“We are making important progress in our merger process and are pleased that state insurance regulators continue to see the benefits that our combination will bring to recipients and communities,” said Michael F. Neidorff, Centene’s Chairman, President and Chief Executive Officer. “We will continue to work with the remaining state insurance regulators to demonstrate how we will provide recipients with access to affordable, high-quality services and products as well as deliver fair compensation for providers and create savings for states.”
The companies continue to expect that the transaction will be completed by the first half of 2020.
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.
Source: Company Press Release