Health insurer Centene has received regulatory approval from both the New York Department of Health and the New York Department of Financial Services for its Fidelis Care transaction.
In Sept. 2017, Centene and Fidelis entered into an asset purchase agreement, wherein a newly formed, wholly owned subsidiary of Centene will purchase substantially all the assets of Fidelis Care for approximately $3.75 billion.
Centene said the acquisition still remains subject to regulatory approval from the New York Attorney General and certain closing conditions.
"We are pleased to have crossed these milestones and look forward to working with the regulatory authorities and Attorney General through the completion of the process," said Michael Neidorff, chairman and CEO of Centene Corporation.
Centene, Fidelis, Acquisition, M&A, Regulatory approval, Michael Neidorff, US