Forbes December 2, 2019
CVS Health will buy Medicaid and Medicare Advantage lines of business owned by Centene in Illinois as part of a divestiture needed by Centene to win approval of its WellCare Health Plans acquisition.
The divestiture by Centene of its IlliniCare Health Plan subsidiary is the latest effort by the health insurance companies to win over regulators to their merger. The merger has already “received approvals from insurance and health care departments from 26 states,” Centene said Monday.
“The transaction entails the sale of Centene’s Medicaid and Medicare Advantage lines of business in Illinois,” Centene said Monday in a statement announcing the divestiture. “Centene will retain IlliniCare’s Medicare-Medicaid Alignment Initiative (“MMAI”) business and IlliniCare’s statewide YouthCare foster care contract, set...
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