The acquisition was originally expected to close in the first half of 2020. Mr. Neidorff, also chairman and president of Centene, told investors the health insurer has received required approval in eight states for the $17.3 billion deal, which is ahead of schedule. Centene filed for approval in 27 states.
Where applicable, Centene and WellCare have begun looking at divesting units that could raise antitrust concerns, Mr. Neidorff added. In June, the insurers said they received a request for additional information from the Department of Justice, which they expected given the size of the deal.
Centene saw double-digit growth in its revenue and profit during the second quarter of fiscal year 2019. Centene ended the quarter with a $495 million profit, up 65 percent from $300 million reported in the same period in 2018.
More articles on payers:
UnitedHealth records $3.3B profit in Q2
New York insurer opens office in hospital
The average price for treating primary care conditions in ED? $2,032, UnitedHealth says
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.