Centene Corporation (NYSE: CNC) (“Centene”) and WellCare Health Plans, Inc. (NYSE: WCG) (“WellCare”) today announced that the Illinois Department of Insurance, the New Jersey Department of Banking and Insurance and the New Jersey Division of Medical Assistance and Health Services have each approved Centene’s indirect pending acquisition of WellCare domestic insurers in those respective states. Completion of the transaction remains subject to clearance under the Hart-Scott-Rodino Act, approval of the divestitures of legal entities in the states of Illinois and Nebraska, and other customary closing conditions.
“We are pleased to have received these additional approvals necessary to close the WellCare merger, which remains on track to close by the first half of 2020,” said Michael F. Neidorff, Centene’s Chairman, President and Chief Executive Officer. “We are now one step closer to completing our combination of two high-performing growth companies that are committed to helping people live healthier lives. We are focused on completing the remaining milestones needed to close the transaction, so we can provide our members and communities access to high-quality healthcare through the combined company’s wide range of affordable health solutions.”
Source: PR Newswire