The combined company will have about $30 billion in drug spending, making it a major player in the pharmacy-benefit management market.
Health insurer Centene Corp. agreed to buy managed-care provider WellCare Health Plans Inc. for more than $15 billion, expanding in the market for government insurance plans just as politicians in Washington appear to be gearing up for another health-policy clash.
Centene, based in St. Louis, offered $305.39 per share in cash and stock for Tampa, Florida-based WellCare, the companies said in a statement Wednesday. The boards of both companies backed the transaction, which has an enterprise value of $17.3 billion. Deal talks between Centene and WellCare were first reported by Bloomberg on Tuesday.
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