Meridian Sells to WellCare Health Plans for $2.5 Billion

Meridian Sells to WellCare Health Plans for $2.5 Billion

WellCare Health Plans, Inc. (NYSE: WCG) struck a deal to acquire privately held Meridian, which operates Medicaid plans in Illinois and Michigan, as well as MeridianRx, a pharmacy benefit manager (PBM). The all-cash price is $2.5 billion. Meridian expects to generate more than $4.3 billion in total revenue in 2018. Through its subsidiaries, Meridian Health Plan of Michicgan, Inc. and Meridian Health Plan of Illinois, Inc., the company serves approximately 1.1 million Medicaid, Medicare Advantage, integrated dual-eligible and Health Insurance Marketplace members as or May 1, 2018, in Michigan, Illinois, Indiana and Ohio. This transaction is expected to close by the end of 2018. For... Read More »