U.S. health insurer Centene Corp confirmed on Wednesday that it would buy WellCa...
FILE PHOTO: Michael F. Neidorff, Chairman and Chief Executive Officer of Centene Corporation, attends the World Economic Forum annual meeting in Davos, Switzerland January 24, 2018 REUTERS/Denis Balibouse
Analysts said the acquisition would likely reduce Centene’s dependence on the Obamacare healthcare exchanges and allow it to better compete against large rivals UnitedHealth Group Inc and CVS Health Corp. The deal would allow Centene to grow its Medicaid business and save costs as well as expand into Medicare Advantage, which is currently a small segment for the company, Bernstein analyst Lance Wilkes said in a pre-deal note.
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