Centene & CVS Health Announce Agreement For CVS Health To Acquire IlliniCare Health

Centene Corporation and CVS Health announced that, in connection with the previously announced merger agreement between Centene and WellCare Health Plans, Inc., Centene has entered into a definitive agreement under which CVS Health will acquire Centene's Illinois health plan subsidiary, IlliniCare Health Plan, Inc. The transaction entails the sale of Centene's Medicaid and Medicare Advantage lines of business in Illinois; the financial terms of the transaction will not be disclosed.

Centene will retain IlliniCare's Medicare-Medicaid Alignment Initiative business and IlliniCare's statewide YouthCare foster care contract, set to commence in February 2020. Centene's Ambetter business . . .