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WellCare Health Plans Inc (WCG.N)

WCG.N on New York Stock Exchange

266.70USD
22 Aug 2019
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Latest Key Developments (Source: Significant Developments)

Centene Says There May Be Able To Close WellCare Deal "Earlier" In 2020
Tuesday, 23 Jul 2019 

July 23 (Reuters) - Centene Corp ::CENTENE SAYS REGULATORY DISCUSSIONS FOR WELLCARE DEAL ARE WELL UNDERWAY AND HAVE BEEN "VERY CONSTRUCTIVE" - CONF. CALL.CENTENE SAYS APPROVALS FOR WELLCARE DEAL OBTAINED IN 8 STATES, AHEAD OF SCHEDULE- CONF. CALL.CENTENE SAYS THERE MAY BE AN OPPORTUNITY TO CLOSE WELLCARE DEAL "EARLIER" IN 2020; CO HAS PREVIOUSLY SAID IT EXPECTS DEAL CLOSE IN FIRST HALF OF 2020- CONF. CALL.CENTENE SAYS MEDICAL COSTS REMAINED STABLE AND IN LINE WITH EXPECTATIONS IN LOW SINGLE DIGITS - CONF. CALL.CENTENE SAYS OBAMACARE EXCHANGE BUSINESS MARGINS CONTINUE TO BE IN THE 5% TO 10% RANGE- CONF. CALL.  Full Article

Centene Corp Q2 Adjusted Earnings Per Share $1.34
Tuesday, 23 Jul 2019 

July 23 (Reuters) - Centene Corp ::CENTENE CORPORATION REPORTS 2019 SECOND QUARTER RESULTS AND INCREASES 2019 GUIDANCE.Q2 ADJUSTED EARNINGS PER SHARE $1.34.Q2 REVENUE $18.4 BILLION VERSUS REFINITIV IBES ESTIMATE OF $18.01 BILLION.Q2 EARNINGS PER SHARE ESTIMATE $1.24 -- REFINITIV IBES DATA.QTRLY GAAP DILUTED EPS $1.18.OUR STRONG Q2 RESULTS DEMONSTRATE CENTENE'S FAVORABLE FINANCIAL AND OPERATING MOMENTUM.JUNE 30, 2019 MANAGED CARE MEMBERSHIP OF 15.0 MILLION, AN INCREASE OF 2.2 MILLION MEMBERS, OR 17%, OVER JUNE 30, 2018.CENTENE SAYS PENDING WELLCARE ACQUISITION WILL BOLSTER AND DIVERSIFY OUR PRODUCT OFFERINGS, SIGNIFICANTLY INCREASE SCALE.HEALTH BENEFITS RATIO OF 86.7% FOR Q2 OF 2019, COMPARED TO 85.7% IN Q2 OF 2018.SEES FY TOTAL REVENUES $ 73.6 BILLION -$ 74.2 BILLION.SEES FY GAAP DILUTED EPS $3.70 - $3.87.SEES FY HEALTH BENEFIT RATIO 86.6 % - 87.1 %.SEES FY ADJUSTED DILUTED EPS $4.29 - $4.49.FY2019 EARNINGS PER SHARE VIEW $4.37, REVENUE VIEW $73.07 BILLION -- REFINITIV IBES DATA.  Full Article

WellCare and AbleTo Partner to Bring Virtual Behavioral Healthcare to Medicare Advantage Members in New York
Thursday, 11 Jul 2019 

July 11 (Reuters) - WellCare Health Plans Inc ::WELLCARE HEALTH PLANS - CO AND ABLETO ANNOUNCED TODAY LAUNCH OF NEW PROGRAM TO SERVE WELLCARE'S MEDICARE ADVANTAGE MEMBERS IN NEW YORK.  Full Article

Centene And WellCare Stockholders Approve Proposals Regarding Centene's Pending Acquisition Of WellCare
Monday, 24 Jun 2019 

June 24 (Reuters) - Centene Corp ::CENTENE AND WELLCARE STOCKHOLDERS APPROVE PROPOSALS REGARDING CENTENE'S PENDING ACQUISITION OF WELLCARE.CENTENE CORP - TRANSACTION ON TRACK TO CLOSE BY FIRST HALF OF 2020.CENTENE - CO, WELLCARE EACH RECEIVED A REQUEST FOR ADDITIONAL INFORMATION AND DOCUMENTARY INFORMATION AND MATERIALS FROM DEPARTMENT OF JUSTICE.  Full Article

Centene Says Ken Burdick, Drew Asher To Join Executive Team Of Combined Co
Friday, 31 May 2019 

May 31 (Reuters) - Centene Corp ::CENTENE CORPORATION ANNOUNCES APPOINTMENTS OF KEN BURDICK AND DREW ASHER TO EXECUTIVE TEAM OF COMBINED COMPANY FOLLOWING CLOSE OF WELLCARE TRANSACTION.CENTENE CORP - CENTENE TO PREVIEW ADDITIONAL DETAILS OF ORGANIZATIONAL STRUCTURE FOR COMBINED COMPANY AT INVESTOR DAY SCHEDULED FOR JUNE 14, 2019.CENTENE CORP - EXPECTS TO ANNOUNCE ADDITIONAL DETAILS ON COMBINED ORGANIZATIONAL STRUCTURE AND LEADERSHIP TEAM AT INVESTOR DAY.CENTENE CORP - COMBINATION IS EXPECTED TO CLOSE BY FIRST HALF OF 2020.CENTENE - UPON CLOSE OF PENDING WELLCARE DEAL, KEN BURDICK, CEO OF WELLCARE, &DREW ASHER, CFO OF WELLCARE, WILL JOIN CO IN EXECUTIVE LEADERSHIP POSITIONS.CENTENE CORP - BURDICK'S EMPLOYMENT AGREEMENT IS FOR A TWO-YEAR TERM..  Full Article

WellCare Health Plans Inc Posts Q1 Adjusted Earnings Per Share of $3.69
Tuesday, 30 Apr 2019 

April 30 (Reuters) - WellCare Health Plans Inc ::WELLCARE REPORTS FIRST QUARTER 2019 RESULTS.Q1 ADJUSTED EARNINGS PER SHARE $3.69.Q1 EARNINGS PER SHARE ESTIMATE $3.04 -- REFINITIV IBES DATA.Q1 GAAP EARNINGS PER SHARE $2.98.Q1 REVENUE $6.8 BILLION VERSUS REFINITIV IBES ESTIMATE OF $6.57 BILLION.MEDICARE HEALTH PLANS REVENUE OF $1.8 BILLION FOR Q1 OF 2019 INCREASED 18.4 PERCENT COMPARED WITH Q1 OF 2018..GAAP AND ADJUSTED MEDICAID HEALTH PLANS REVENUE WAS $4.5 BILLION AND $4.4 BILLION, RESPECTIVELY, FOR Q1 OF 2019.WELLCARE HEALTH - MEDICAID HEALTH PLANS MEMBERSHIP WAS 4.1 MILLION AS OF MARCH 31, 2019, UP BY ABOUT 52.3 PERCENT, COMPARED WITH MARCH 31, 2018.WELLCARE HEALTH PLANS- MEDICARE HEALTH PLANS MEMBERSHIP WAS ABOUT 558,000 AS OF MARCH 31, 2019, UP ABOUT 10.3 PERCENT, COMPARED WITH MARCH 31, 2018.QTRLY TOTAL PREMIUM REVENUE $6.61 BILLION VERSUS $4.63 BILLION.WELLCARE HEALTH PLANS- MEDICARE PDP MEMBERSHIP WAS ABOUT 1.6 MILLION AS OF MARCH 31, 2019, UP BY ABOUT 51.9 PERCENT, COMPARED WITH MARCH 31, 2018.DUE TO PENDING MERGER WITH CENTENE, WELLCARE IS NOT CURRENTLY PROVIDING UPDATED FINANCIAL GUIDANCE.  Full Article

Centene CEO Says Will Probably Continue At Co At Least Five More Years
Wednesday, 27 Mar 2019 

March 27 (Reuters) - Centene Corp ::CENTENE CFO SAYS $500 MILLION OF ESTIMATED ANNUAL COST SAVINGS FROM DEAL INCLUDE SYNERGIES FOR A "PRUDENT AMOUNT OF POTENTIAL DIVESTITURES" - CONF. CALL.CENTENE CEO SAYS WILL PROBABLY CONTINUE AT CO AT LEAST FIVE MORE YEARS - CONF. CALL.  Full Article

Centene To Acquire WellCare In Transaction Valued At $17.3 Bln
Wednesday, 27 Mar 2019 

March 27 (Reuters) - Centene Corp ::CENTENE AND WELLCARE TO COMBINE TO CREATE A PREMIER HEALTHCARE ENTERPRISE FOCUSED ON GOVERNMENT-SPONSORED HEALTHCARE PROGRAMS.CENTENE CORP - TRANSACTION PROJECTED TO BE MID-SINGLE DIGIT ACCRETIVE TO ADJUSTED EPS IN YEAR TWO.CENTENE CORP - TRANSACTION VALUED AT $17.3 BILLION; COMBINED COMPANY TO HAVE APPROXIMATELY 22 MILLION MEMBERS.CENTENE CORP - COMBINED COMPANY TO HAVE APPROXIMATELY 22 MILLION MEMBERS ACROSS ALL 50 STATES.CENTENE CORP - TRANSACTION PROJECTED TO BE MID-SINGLE DIGIT ACCRETIVE TO ADJUSTED EPS IN YEAR TWO.CENTENE CORP - DEAL FOR $305.39 PER SHARE.CENTENE CORP - BOARD OF COMBINED COMPANY WILL CONSIST OF 11 MEMBERS, NINE OF WHOM WILL BE FROM BOARD OF CENTENE.CENTENE CORP - TRANSACTION IS EXPECTED TO BE SLIGHTLY DILUTIVE TO ADJUSTED EARNINGS PER SHARE IN YEAR ONE.CENTENE CORP - AFTER CLOSE OF TRANSACTION, MICHAEL NEIDORFF WILL LEAD COMBINED COMPANY AS CHAIRMAN AND CHIEF EXECUTIVE OFFICER.CENTENE CORP - KEN BURDICK AND DREW ASHER ARE EXPECTED TO JOIN CENTENE SENIOR MANAGEMENT TEAM IN NEW POSITIONS CREATED AS A RESULT OF ACQUISITION..CENTENE CORP - COMBINATION IS EXPECTED TO GENERATE APPROXIMATELY $500 MILLION OF ANNUAL NET COST SYNERGIES BY YEAR TWO.CENTENE CORP - COMBINED COMPANY WILL BE HEADQUARTERED IN ST. LOUIS, LOCATION OF CENTENE'S HEADQUARTERS.CENTENE - WELLCARE SHAREHOLDERS TO RECEIVE FIXED EXCHANGE RATIO OF 3.38 SHARES OF CO'S STOCK AND $120 IN CASH FOR EACH SHARE OF WELLCARE COMMON STOCK.  Full Article

Centene Is Holding Takeover Talks With Wellcare Health - CNBC, Citing Report
Wednesday, 27 Mar 2019 

March 26 (Reuters) - :CENTENE IS HOLDING TAKEOVER TALKS WITH WELLCARE HEALTH - CNBC, CITING REPORT.  Full Article

Meridianrx Launches Pharmacy Member Portal And Free Mobile Application, Atlas Compass
Tuesday, 19 Mar 2019 

March 19 (Reuters) - WellCare Health Plans Inc ::MERIDIANRX SAYS HAS LAUNCHED PHARMACY MEMBER PORTAL AND FREE MOBILE APPLICATION, ATLAS COMPASS.MERIDIANRX SAYS NEW COMPASS PROVIDES PHARMACY BENEFIT MANAGER MEMBERS WITH DIRECT ACCESS TO THEIR OWN PHARMACY HEALTH INFORMATION.MERIDIANRX - ADDITIONAL APP FEATURES INCLUDE PRESCRIPTION REFILL REMINDERS, PHARMACY SEARCH FUNCTION & MEMBER PLAN INFORMATION WITH DIGITAL ID CARD.  Full Article

Centene Corp posts 65% rise in second-quarter profit

July 23 Centene Corp, which is buying smaller rival WellCare Health Plans Inc, on Tuesday reported a 65% rise in quarterly profit, helped by higher sales of its Medicaid health plans for low-income people.