We represented WellCare Health Plans, Inc. (NYSE: WCG) in its definitive agreement to acquire Meridian for $2.5 billion in cash. Meridian is a family-owned, family-operated group of health plans with offices in Michigan and Illinois. Meridian's affiliates include MeridianHealth (Medicaid), MeridianCare (Medicare), MeridianComplete (Medicare-Medicaid), MeridianChoice (Health Insurance Marketplace), and MeridianRx, a pharmacy benefit management company. The transaction is expected to close by the end of 2018.
Headquartered in Tampa, Florida, WellCare focuses on providing government-sponsored managed care services, primarily through Medicaid, Medicare Advantage and Medicare Prescription Drug Plans, to families, children, seniors and individuals with complex medical needs. The company served approximately 4.3 million members nationwide as of March 2018.