WellCare Health Plan (NYSE: WCG) breathed a little life into the lethargic Managed Care sector, which has experienced a lull in M&A this year. WellCare provides government-sponsored managed care services, and its target, Universal American Corp. (NYSE: UAM), provides health insurance and managed care products and services to Medicare and Medicaid customers in the United States.

The purchase price is $800 million, or $10.00 per share, representing a 34% premium to Universal American’s 60-day volume-weighted average closing stock price as of November 16, 2016, and includes the retirement of Universal American’s preferred shares and its convertible debt.

WellCare expects the acquisition to add approximately 65,000 Medicare Advantage members in Houston and approximately 14,000 Medicaid Advantage members in the Northeast, primarily in New York State, to its Medicare Health Plans membership.

This is WellCare’s third acquisition in 2016, with the first being its February 22 purchase of Advicare Corp., an organization that provides Medicaid benefits to approximately 32,500 members in South Carolina, for an undisclosed amount. The second deal was announced in October, for the purchase of not-for-profit Care1st Health Plan Arizona Inc., which provides Medicare and Medicaid benefits to 114,000 beneficiaries in Arizona.

Overall, the Managed Care sector has slowed down this year, after a busy 2015. As of late November, just 20 deals have been announced, down 56% from 2015’s total of 45. Last year’s transactions got a boost in June 2015, after the U.S. Supreme Court ruled in favor of the federal government’s use of tax subsidies for low-income consumers applying for health insurance through the federal health exchange. The ruling in King v. Burwell sparked the announcement of the $37 billion merger between Aetna (NYSE: AET) and Humana (NYSE: HUM), and Anthem’s (NYSE: ANTM) $54.2 billion bid for Cigna (NYSE: CI).

Other active players in the Managed Care sector in 2016 have been the not-for-profit Fairview Health Services, Magellan Health, Inc. (NASDAQ: MGLN) and Molina Healthcare, Inc. (NYSE: MOH), each announcing two acquisitions.