New Jersey Inc., a subsidiary of WellCare Health Plans Inc., has acquired Medicaid assets from Healthfirst Health Plan of New Jersey Inc.
The acquired assets primarily are associated with an estimated 42,000 Healthfirst Medicaid members who are expected to be transferred to WellCare’s Medicaid plan, according to a statement.
Financial terms of the transaction were not disclosed.
Medicaid members in the plan will not experience any changes to their 2014 benefits, but will receive a new identification card, the statement said.
WellCare (NYSE: WCG), based in Tampa, provides managed care services targeted to government-sponsored health care programs.
Date: July 1, 2014
Source: Tampa Bay Business Journal