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The addition of WellCare is an important step in our growth strategy and will drive value for our collective shareholders over the short and long-term," Marcela Hawn, Centene spokeswoman, said in a statement to Healthcare Dive. Such plans combine Medicare benefits with drug coverage and they are available to patients with certain health conditions who are eligible for both Medicare and Medicaid coverage for the poor, according to Humanas web site. The OrthoForum is a national physician sub specialty organization whose membership includes the largest privately owned orthopedic practices in the United States. Today, the number is eight (UnitedHealth, Anthem/BlueCross, Aetna, Cigna, Humana, Centene, Health Net, WellCare) and last year the top five attempted to consolidate into three (the Aetna-Humana merger was blocked on antitrust grounds in 2017). In 2004, there were 17 national/public payors in operation (remember Coventry?). jturner@proscan.com, Orthopedic practices thrive on athenahealth. COVID-19 Relief for Members: Centene, a Fortune 25 company, offers products to nearly one in 15 Americans, including Medicaid and Medicare members and those served by the Health Insurance Marketplace and the TRICARE program, as well as individuals in correctional facilities. greg@cmacpartners.com Proprietary data and over 3,000 third-party sources about the most important topics. CVS also owns Caremark, one of the three largest pharmacy benefit managers (PBMs), which negotiate drug discounts on behalf of health plans. Innovative talent drives the aging industry forward. Centene and WellCare last week scheduled a June 24 vote on the merger and say they arent backing away from the deal. The goal? This copy is for your personal, non-commercial use only. Jones retired in 1997, ceding leadership to Gregory Wolf; a year later United Healthcare tried to take over the company for $5.5 billion. Thats how groups like this Florida clinic position themselves for future growth. 2023 Healthcare Finance is a publication of HIMSS Media, Quantum computing poised to transform healthcare, AHA wants Congress to intervene in Medicare and Medicaid payments, Behavioral health access needs remote care and AI, Ending racism in healthcare often begins with medical education - and is the target of a new national project. BDR@clearwaveinc.com. bcarr@medstrat.com, Jim Mulvanny Centene has acknowledged that divestitures are likely in Missouri and Nebraska. Centene Corporation CNC recently inked a definitive deal to acquire Apixio. Mergers and Acquisitions News and Resources for Healthcare As the deal is currently constructed, WellCare shareholders will receive $120 cash and 3.38 Centene shares for every WellCare share they own. Centene Completes Acquisition of Magellan Health, Establishing a Email: eric.astacio@curascript.com, Strategic Account Representative rhaltshuler@mmm.com VP Solutions Meanwhile, theres yet to be a big institutional shareholder that has come out against the Centene-WellCare deal. In 2017, the courts blocked mergers between Aetna Inc. and Cigna Corp., and Anthem Inc. and Humana Inc. Aetna eventually merged with pharmacy chain CVS Health Corp., and Cigna bough drug-benefits . To learn how Nextech can help your practice succeed in todays rapidly changing healthcare environment, visit www.nextech.com. Healthier patients and happier providers. See our latest press releases, news articles or download our press kit. Practices using athenahealths orthopedic EHR and billing services are improving claims and collections, staying ahead of regulatory changes, and expertly closing care gaps. The so-called merger arbitrage spreads on the Cigna (CI)-Express Scripts and CVS-Aetna deals were both wide, too, says Gordon Haskett analyst Don Bilson. Centene completes acquisition of Magellan Health Meanwhile, analysts said major institutional investors are. Senior National Director: Strategy and Business Development 395 new diagnosis codes have been proposed by CMS for fiscal year 2024. Sales Director A Humana spokesperson could not be reached for comment. peter@cmacpartners.com Humana Inc. (NYSE:HUM) acquired Elite Health Medical Centers P.A. Behavioral Health Business (BHB) is the leading source for news and information covering the mental health and addiction industry. On the most recent earnings call with investors, SVB Leerink analyst Ana Gupte asked about Humana's Medicaid strategy in light of the Centene-WellCare deal. Horizontal concerns may arise if, due to the merger, Centene and Magellan would no longer provide this competitive constraint on each other. Second, I assess whether the proposed acquisition raises vertical concerns in California. Take a look into our corporate culture and view our open roles. Merging with Centene would run counter to its current aspirations to grow its Medicaid and Medicare Advantage businesses. Senior Vice President of Business Development Humana is a major player in providing privatized Medicare benefits known as Medicare Advantage while Centene is one of the biggest providers of Medicaid benefits in contracts with states. If understanding the implications from deal-making wasnt enough of a challenge, consider As the deal is currently constructed, WellCare shareholders will receive $120 cash and 3.38 Centene shares for every WellCare share they own. Thats because large health-care mergers and acquisitions affect a host of other companies, from drugmakers to pharmacy-benefit managers. We empower the transformation of ambulatory care. Humana Swats Down Rumors That It Wants Centene Speculation that Centene will abort its merger with WellCare Health Plans and submit to a takeover by Humana may be subsiding among big institutional investors who remain supportive of the deal. Prior to his roles at Magellan, Murray served as President of Dallas-based PrimeWest Health, which supports physician shift to value-based care, and as CEO of Dallas-based hospital system LifeCare HealthPartners. Phone: (901)736-9903. Learn more about our mission and how Insider Intelligence came to be. Speculation that Centene will abort its merger with WellCare Health Plans and submit to a takeover by Humana may be subsiding among big institutional investors who remain . Tim Fuchs Centenes primary business is Medicaid: It covers over, This would complement Cignas already massive existing member base: Cigna claims it serves over. Judge tosses Humana, Centene RICO suits over Suboxone But many benefits of megamergers put forward by. 407-264-7255. Humana Closed Jan. 4, 2021, Centene sold its Magellan Complete Care to Molina Healthcare for about $1 billion. Humana Squashes Proposed Merger with Centene, WellCare Large mergers usually take significant time to close due to antitrust regulatory barriers: Plus, the federal government has shut down large insurer M&As in the past, which means a Cigna-Centene merger could see the same fate: 11 Times SquareNew York, NY 100361-800-405-0844, 1-800-405-0844ii-sales@insiderintelligence.com, Our research focuses on the five core coverage areas below. According to the AP, the Centene-Health Net merger "would help Centene expand in the nation's biggest Medicaid market, California, and give it a Medicare presence in several Western states.". Centene Appoints Jim Murray As Chief Transformation Officer [Also: Catholic Health Initiatives, Aetna launch Nebraska's first ACO]. UnitedHealth Officials at Centene have said they see the merger as a way to get a strong foothold in the marketplace here, since Health Net is the fourth largest insurer in California, behind Kaiser Permanente, Anthem Blue Cross and Blue Shield of California. What the Centene Wellcare Merger Means for You. Reach an engaged audience of decision-makers. Third Point holds about 1.5% of Centenes shares and is reportedly buying shares to increase its stake. Todays orthopedic practices and surgery centers require more than a medical-surgical supply distributor they also need an ally that can help tackle business challenges such as managing costs and improving clinical outcomes.