Managed-care company WellCare Health Plans Inc. has reached a deal to buy Meridian, which operates a pharmacy-benefit manager and health plans in Illinois and Michigan, for $2.5 billion in cash.
The transaction allows Tampa, Fla.-based WellCare to expand its government-sponsored health plans by adding Michigan, where Meridian has the No. 1 Medicaid market position, and grow its Medicaid business in Illinois, the companies said Tuesday. The deal is expected to close by year’s end.
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Article source: https://www.wsj.com/articles/health-insurer-wellcare-to-acquire-meridian-for-2-5-billion-1527631983