WellCare To Acquire Aetna's Missouri Care |
TAMPA, Fla. (Jan. 22, 2013) - WellCare Health Plans, Inc. (NYSE: WCG) today announced that it has entered into an agreement to acquire Missouri Care, Inc., a subsidiary of Aetna, Inc. (NYSE: AET). As of December 2012, Missouri Care serves more than 100,000 MO HealthNet Medicaid program members in 54 counties across the state. Missouri Care has an extensive provider network that includes more than 50 hospitals and 9,500 physicians. "Missouri Care has enjoyed a long-standing and sizable presence in the state, serving the Medicaid program for approximately 15 years," said Alec Cunningham, WellCare's CEO. "We are pleased to re-enter the MO HealthNet program under the leadership of Missouri Care CEO Pamela Johnson and her team. "The Missouri Care acquisition complements WellCare's existing Medicare Advantage and Prescription Drug Plan offerings," said Cunningham. As of January 2013, WellCare serves approximately 3,000 Medicare Advantage members and 13,000 Medicare Prescription Drug Plan members in Missouri. The transaction is subject to regulatory approvals and certain other closing conditions. WellCare anticipates that the transaction will close in the next 90 days. Because WellCare has not provided financial guidance for 2013 at this time, the company is not providing financial information regarding the Missouri Care transaction or its potential impact on 2013 financial results.
About WellCare Health Plans, Inc.
Cautionary Statement Regarding Forward-Looking Statements Additional information concerning these and other important risks and uncertainties can be found under the captions "Forward-Looking Statements" and "Risk Factors" in WellCare's Annual Report on Form 10-K for the year ended December 31, 2011, and in WellCare's Quarterly Report on Form 10-Q for the period ended September 30, 2012 and other subsequent filings by WellCare with the U.S. Securities and Exchange Commission, which contain discussions of WellCare's business and the various factors that may affect it. WellCare undertakes no duty to update these forward-looking statements to reflect any future events, developments, or otherwise. -END-
CONTACTS:
Media Relations WellCare To Acquire Aetna's Missouri Care
HUG#1671968 |
distributed by
|