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WellCare Health Plans has completed the acquisition of certain assets - including Arizona Medicaid membership and certain provider contracts - from Phoenix Health Plan, a managed care subsidiary of Tenet Healthcare.
The transaction involves the transfer of around 44,000 Medicaid members to Care1st Health Plan Arizona, a subsidiary of WellCare.
"This transaction complements our Care1st Arizona business which we acquired at the end of 2016 and demonstrates our commitment to serving Arizona's Medicaid beneficiaries," said Ken Burdick, WellCare's chief executive officer. "We will continue to partner with the state and local providers to deliver coordinated health care services to improve the health of Arizonans."
"We are thrilled to serve more Medicaid beneficiaries in Arizona," said Scott Cummings, WellCare's state president, Arizona. "Providing our members with access to high-quality health care is our first priority, and we are focused on ensuring a smooth transition and continuity of care for PHP Medicaid members."
Financial terms of the transaction were not disclosed.
WellCare Health Plansm, M&a, Arizona Medicaid, Tenet Healthcare, Phoenix Health Plan, US