WellCare Health Plans, a Tampa, Fla.-based Medicaid and Medicare insurance company, said it agreed to acquire UnitedHealth Group's South Carolina Medicaid business.
WellCare would gain 65,000 South Carolina Medicaid members under the deal, according to UnitedHealth Group's October enrollment figures, according to a news release announcing the deal. The business operates in 39 South Carolina counties with a network of 30 hospitals and 3,800 doctors.
Terms of the deal, which is expected to close by year-end, were not disclosed, said WellCare spokeswoman Crystal Walker. Regulators must approve the acquisition.
“We believe the state is making policy changes that should improve the Medicaid program for managed-care plans, and offer the potential for increased membership,” Alec Cunningham, WellCare's CEO, said in the release.
WellCare said in early September it would acquire Easy Choice Health Plan, a Long Beach, Calif.-based Medicare Advantage company. The deal has not yet closed.
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