Aetna Completes Sale of Missouri Medicaid Business
Monday, April 1, 2013 8:31 am EDT
HARTFORD, Conn.--(BUSINESS WIRE)--Aetna (NYSE: AET) today announced that it has completed the sale of its Missouri Medicaid business, called Missouri Care, to WellCare Health Plans, Inc. (NYSE: WCG). Financial terms were not disclosed.
As previously announced, the sale of Missouri Care is related to Aetna’s proposed acquisition of Coventry Health Care, Inc., which operates a Missouri Medicaid plan called HealthCare USA. Aetna plans to operate HealthCare USA when the Coventry acquisition is completed. Aetna continues to expect that the Coventry acquisition will be completed in mid-2013.
About Aetna
Aetna is one of the nation's leading diversified health care benefits companies, serving approximately 37.3 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, and medical management capabilities, Medicaid health care management services and health information technology services. Our customers include employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups and expatriates. For more information, see www.aetna.com.
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