Wellcare Plans $800 Million Acquisition

On November 17, 2016, Tampa-based WellCare Health Plans Inc. announced plans to acquire New York-based Universal American Corp. WellCare will pay $10 per share for Universal American's common stock. The deal adds thousands of members to WellCare's Medicare health plans. It represents approximately 65,000 Medicare Advantage members in the metro Houston area and approximately 14,000 Medicare Advantage members in the Northeast, primarily in New York, of WellCare's membership. The acquisition also gives WellCare a presence in Maine.

Universal American also partners with accountable care organizations in 11 states, six of which are WellCare . . .