Centene Corporation (NYSE: CNC) (“Centene”) and WellCare Health Plans, Inc. (NYSE: WCG) (“WellCare”) today announced that the New York Department of Financial Services and Department of Health have each approved Centene’s pending indirect acquisition of New York domiciled WellCare insurance subsidiaries, bringing the total number of states to approve the transaction to 25.
“We are pleased that the New York State Department of Financial Services and Department of Health have joined 24 other states in issuing approvals,” said Michael F. Neidorff, Centene’s Chairman, President and Chief Executive Officer. “These approvals bring us another step closer toward completing the combination of Centene and WellCare. We will continue to work with state insurance regulators in the remaining states needed for approval to demonstrate how we are creating a leading healthcare enterprise that is committed to helping people live healthier lives.”
The companies continue to expect that the transaction will be completed by the first half of 2020.
Completion of the transaction remains subject to clearance under the Hart-Scott-Rodino Act, receipt of the remaining required state regulatory approvals and other customary closing conditions.
Additional information about the transaction can be found at centene-wellcare.com. – PR Newswire