WellCare Health Plans Inc. has a definitive agreement to buy Meridian, headquartered in Detroit and one of the largest privately held, for-profit managed care organizations in the United States, for $2.5 billion in cash.
The deal calls for WellCare (NYSE: WCG), a Tampa-based managed care provider focused on government-sponsored health plans, to acquire Meridian Health Plan of Michigan Inc., Meridian Health Plan of Illinois Inc., and MeridianRx, a pharmacy benefit manager, a press release said.
