Divestiture • Healthcare Services

WellCare Health Plans Acquires Healthfirst Health Plan of New Jersey - Medicaid Assets

On July 1, 2014, WellCare Health Plans acquired healthcare services company Healthfirst Health Plan of New Jersey - Medicaid Assets from Healthfirst Health Plan Of New Jersey

Acquisition Context
  • This is WellCare Health Plans’ 5th transaction in the Healthcare Services sector.
  • This is WellCare Health Plans’ 5th transaction in the United States.
  • This is WellCare Health Plans’ 1st transaction in New Jersey.

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M&A Deal Summary

Date July 1, 2014
Target Healthfirst Health Plan of New Jersey - Medicaid Assets
Sector Healthcare Services
Buyer(s) WellCare Health Plans
Sellers(s) Healthfirst Health Plan Of New Jersey
Deal Type Divestiture

Target Company

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.
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Buyer Overview 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 Context for Buyer #
Overall 5 of 13
Sector: Healthcare Services 5 of 9
Type: Divestiture 4 of 8
State: New Jersey 1 of 1
Country: United States 5 of 13
Year: 2014 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-06 Windsor Health Group

Brentwood, Tennessee, United States

WellCare Health Plans, Inc. provides managed care services targeted to government-sponsored health care programmes, focusing on Medicaid and Medicare. Headquartered in Tampa, Florida, USA, WellCare offers a variety of health plans for families, children, and the aged, blind, and disabled, as well as prescription drug plans.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-23 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.

Buy -

Seller Profile 1

SELLER

Healthfirst Health Plan Of New Jersey

Newark, New Jersey, United States

Category Company
Founded 2007
Sector Insurance
DESCRIPTION

Healthfirst Health Plan Of New Jersey, Inc. offers a full range of insurance products and services.


Deal Context for Seller #
Overall 1 of 1
Sector: Healthcare Services 1 of 1
Type: Divestiture 1 of 1
State: New Jersey 1 of 1
Country: United States 1 of 1
Year: 2014 1 of 1