- U.S. health insurer Centene Corp on Wednesday said it would buy smaller rival WellCare Health Plans Inc for $15.27 billion in stock and cash, in a move to bulk up its government-backed Medicare and Medicaid businesses while reducing exposure to Obamacare healthcare exchanges.Shares of WellCare jumped 9.8 percent to $253.98. Centene shares fell about 7.5 percent to 50.71.
The combined company will have 22 million members, up from around 14 million for Centene at the end of 2018. Since the beginning of 2014, when Obamacare’s Medicaid expansion began taking effect on a significant scale, shares of both companies have surged. Centene’s shares are up around 272 percent, while WellCare shares rose around 228 percent.
The deal, including debt, was valued at $17.3 billion. The offer price of $305.39 per share represents a premium of about 32 percent to WellCare’s closing price on Tuesday.
Let's hope WellCare is cashing out because they see the writing on the wall that says 'Medicare for All.'
The most important thing in that video: Combined together over 97 billion in annual revenues. Why are insurance companies profiting that much? That is the question that needs answered.
Well, well, well....
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Health insurer Centene to buy smaller rival WellCare for $15.27 billionU.S. health insurer Centene will buy smaller rival WellCare Health Plans for $15.27 billion in a cash-and-stock deal. You know healthcare is the biggest scheme in human history when a ‘small’ insurer is purchased for a mere $15.27 BILLION. 😳
Source: CNBC - 🏆 12. / 72 Read more »
Centene to Buy WellCare Health PlansCentene is buying government-sponsored health-care provider WellCare Health Plans in a deal the companies are valuing at $17.3 billion. WHY IN THE USA, NO ONE CONDUCT AN IMPORTANT INVESTIGATION : UnitedStates medical corporations podsazhiv citizens on pills? Why do many Americans start taking antidepressants from school years? We urge to protect children in the US, $17.3 BILLION will be just A DROP IN THE BUCKET for Centene IF the Affordable Care Act gets destroyed by the 'ReTHUGlicans'!!! VOTE THEM OUT!!! and how much of a kick back is trump getting out of it? we need a good reporter 2 find out and air it
Source: WSJ - 🏆 98. / 63 Read more »
Health insurer Centene to buy smaller rival WellCare for $15.27 billionU.S. health insurer Centene Corp confirmed on Wednesday that it would buy WellCa... Because they care about you and your well-being. Like all their ilk, they support more competition to control prices. Competition lowers costs. Consolidation decreases competition. 👎🏼
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WellCare's stock jumps 23% after Centene announces merger valued at $17.3 billionHealth-care company Centene Corp. on Wednesday announced plans to purchase managed-care provider WellCare Health Plans Inc. . St. Louis-based Centene said it... thanks for updates ODPP
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Analysis | The Health 202: Why Congress isn't expanding virtual health careHospitals say it saves them money but Congress's official scorekeeper isn't convinced. There is a difference between virtual healthcare and analyzing where people have faltered knowing your own path... They’re not even expanding offline healthcare It makes no sense
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Doctor App Babylon Health Offers Quick Appointments, But Grapples With Follow-Up Care For Mental HealthA third of London’s mental-health providers are rejecting patient referrals from Babylon Health, a video-calling service used by thousands. Former staff say the startup is struggling to plug into Britain’s healthcare system.
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Doctor App Babylon Health Offers Quick Appointments, But Grapples With Follow-Up Care For Mental HealthA third of London’s mental-health providers are rejecting patient referrals from Babylon Health, a video-calling service used by thousands. Former staff say the startup is struggling to plug into Britain’s healthcare system.
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Analysis | The Health 202: Hospitals lean into virtual health care even as Medicare won't cover itTelehealth advocates say it's not only rural areas that lack access to health providers. My sister met with her doctor via Skype in New York City. Cost saving and doctors can move more quickly between patients. The bad part is that 'small talk' often reveals the real source of a medical condition. healthcare is so expensive in the U.S. and it only benefits innovation and the rich investors who have the capital to invest. I wish it were different Im leaning as well. This purple stuff got me highin
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Health insurer stocks fall after Trump administration seeks overturn of Affordable Care ActThe biggest decliners were Molina Health, which fell nearly 10 percent during Tuesday's session, and Centene which fell nearly 5 percent.
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Centene to buy WellCare for $15B creating ACA powerhouseST. LOUIS (AP) — With the Trump administration again taking aim at the Affordable Care Act, Centene will spend more than $15 billion on rival WellCare Health Plans, both big players in the ACA... Smart move with Obamacare being scrapped. Further consolidation, another outcome. 40+ years of financialization - monopoly/oligopoly capitalism (too big to fail, with its boringly predictable regulatory capture, functioning like communism) - oligarchy, without a working class opposition (*US, you are here*) - fascism. There is no 'Obamacare.' The program is called Affordable Care Act. If Trump breaks it, blame him.
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