M&A Deal Summary

WellCare Health Plans Acquires Advicare

On February 23, 2016, WellCare Health Plans acquired insurance company Advicare

Acquisition Highlights
  • This is WellCare Health Plans’ 1st transaction in the Insurance sector.
  • This is WellCare Health Plans’ 6th transaction in the United States.
  • This is WellCare Health Plans’ 2nd transaction in South Carolina.

M&A Deal Summary

Date 2016-02-23
Target Advicare
Sector Insurance
Buyer(s) WellCare Health Plans
Deal Type Add-on Acquisition

Target

Advicare

Greenville, South Carolina, United States
Advicare Corp. is a managed care organization that provides Medicaid benefits in South Carolina. Advicare provides health insurance coverage for more than 32,500 members. Advicare's provider network features primary care physicians, specialists and hospitals throughout South Carolina.

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Buyer(S) 1

Buyer

WellCare Health Plans

Tampa, Florida, United States

Category Company
Founded 1985
Sector Insurance
Employees6,900
Revenue 20.0B USD (2018)
DESCRIPTION

WellCare Health Plans, Inc. is a provider of managed care services targeted to government-sponsored health care programs, focusing on Medicaid and Medicare. WellCare offers a variety of health plans for families, children, and the aged, blind, and disabled, as well as prescription drug plans.


DEAL STATS #
Overall 6 of 13
Sector: Insurance M&A 1 of 3
Type: Add-on Acquisition M&A Deals 2 of 5
State: South Carolina M&A 2 of 2
Country: United States M&A 6 of 13
Year: 2016 M&A 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-01 Healthfirst Health Plan of New Jersey - Medicaid Assets

Newark, New Jersey, United States

Healthfirst Health Plan of New Jersey - Medicaid Assets primarily are associated with the approximately 42,000 Healthfirst Medicaid members who are expected to be transferred to WellCare's Medicaid plan, as well as certain provider agreements.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-05 Care1st Health Plan of Arizona

Phoenix, Arizona, United States

Care1st Health Plan of Arizona, Inc. is a provider of support and services to meet the health care needs of eligible members enrolled in KidsCare, AHCCCS, and DDD.

Buy $158M