The transaction is slated to close in the first quarter of 2018. Upon closing, Centene will solidify its stance as the country’s largest Medicaid managed care organization.
Centene projects more than $60 billion in revenues in 2018 with the addition of Fidelis. Centene and Fidelis served a combined 13.8 million members as of June 30.
Rev. Patrick Frawley will maintain Fidelis’ CEO role following the transaction’s closing, and the company will keep its headquarters. In addition, Centene plans to take on Fidelis’ roughly 4,000 employees.
The deal is subject to closing conditions and regulatory approvals.
More articles on payer issues:
5 payer responses to Hurricane Irma
Analysis: 63% of weekly social media mentions of health insurers are about Aetna
5 latest payer, provider contract disputes, resolutions
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
