M&A Deal Summary

WellCare Health Plans Acquires Care1st Health Plan of Arizona

On October 5, 2016, WellCare Health Plans acquired healthcare services company Care1st Health Plan of Arizona from Care1st Health Plan for 158M USD

Acquisition Highlights
  • This is WellCare Health Plans’ 7th transaction in the Healthcare Services sector.
  • This is WellCare Health Plans’ 3rd largest (disclosed) transaction.
  • This is WellCare Health Plans’ 9th transaction in the United States.
  • This is WellCare Health Plans’ 2nd transaction in Arizona.

M&A Deal Summary
Date 2016-10-05
Target Care1st Health Plan of Arizona
Sector Healthcare Services
Buyer(s) WellCare Health Plans
Sellers(s) Care1st Health Plan
Deal Type Divestiture
Deal Value 158M USD
Advisor(s) Cain Brothers & Co. LLC (Financial)
Kutak Rock (Legal)

Target

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.

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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 9 of 13
Sector (Healthcare Services) 7 of 9
Type (Divestiture) 6 of 8
State (Arizona) 2 of 3
Country (United States) 9 of 13
Year (2016) 4 of 6
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-05 Care1st Health Plan

Monterey Park, California, United States

Care1st Health Plan, Inc. is a provider of medicare services and benefits in California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-17 Universal American

White Plains, New York, United States

Universal American is a provider of health care products and services.

Buy $800M

Seller(S) 1

SELLER

Care1st Health Plan

Monterey Park, California, United States
Category Company
Sector Healthcare Services
DESCRIPTION

Care1st Health Plan, Inc. is a provider of medicare services and benefits in California.

DEAL STATS #
Overall 2 of 2
Sector (Healthcare Services) 1 of 1
Type (Divestiture) 2 of 2
State (Arizona) 2 of 2
Country (United States) 2 of 2
Year (2016) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-05 One Care by Care1st Health Plan of Arizona

Phoenix, Arizona, United States

One Care by Care1st Health Plan of Arizona, Inc. is an HMO and HMO SNP plan with a Medicare contract and a contract with the Arizona Medicaid program. Enrollment in ONECare depends on contract renewal.

Sell -
Mergr

Product

Company

Legal