Centene, WellCare Shares Rise Following Ascension Health Acquisition Rumors

Health insurers Centene and WellCare Health Plans saw their shares go up yesterday as rumors circulated that one of the two companies could be acquired by St. Louis-based Ascension Health, according to a St. Louis Business Journal report.

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Centene’s shares rose 4.25 percent to $74.02, while WellCare’s shares went up 2.9 percent to $74.91, according to the report. Ascension is reportedly considering an acquisition of an unnamed health insurance company with a presence in 18 states.

WellCare administers Medicaid and Medicare plans in 18 states, while Centene has plans in 20 states, according to the report.

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