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03/31/2019

Centene to Buy WellCare for $15.3 Billion, Creating Health Care Giant

External Link - Source: The New York Times

Centene, a major insurer that has significantly expanded under the Affordable Care Act, is making a bold bet as the Trump administration renews its attacks on the federal health law.

The company announced on Wednesday that it had agreed to buy WellCare, a smaller publicly held insurer based in Florida, for about $15.3 billion.

The deal would create a health care giant that specialized in offering private health plans under the enormous government programs Medicare and Medicaid. The combined company, with revenues expected to approach $100 billion in 2019, would cover 22 million people in all 50 states.

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