Indianapolis-based health insurer WellPoint has agreed to acquire CareMore Health Group, a provider of senior-citizen healthcare benefits, as part of its expansion strategy into Medicare Advantage plans.
Currently, CareMore serves nearly 54,000members and operates 26 care center clinics staffed with various medical professionals in select California, Arizona and Nevada markets, catering primarily on on Medicare, the government health insurance program for those 65 and older.
WellPoint chair, president and CEO Angela Braly said the Medicare market is particularly significant for WellPoint’s growth strategy.
"We anticipate that more than one million baby boomers will age into Medicare every year between now and 2030 across our 14 Blue states," Braly said.
The acquisition is expected to close by end of 2011 and is subject to certain state regulatory approvals and standard closing conditions and customary approvals.