7/12/2023 0 Comments Meridian medicaid![]() ![]() The transaction is expected to produce $0.40 to $0.50 of accretion to WellCare’s adjusted earnings per share in 2019, $0.70 to $0.80 of accretion in 2020, and $1.00+ of accretion in 2021, inclusive of $30 million to $40 million in synergies that will ramp up over the next few years and exclusive of one-time transaction-related expenses of $75 million to $85 million and cumulative integration-related expenses of $50 million to $60 million. We also want to welcome Meridian associates, members, agents, and providers to WellCare.” We look forward to leveraging best practices across the entire company in order to improve quality for all of our members. “WellCare and Meridian have a shared commitment to quality, with Meridian maintaining high quality and accredited Medicaid plans in both Michigan and Illinois. “This transaction grows and diversifies our Medicaid membership by nearly 40 percent, increases our Medicare Advantage presence in new markets, adds a proprietary PBM platform, and enhances WellCare’s integrated dual-eligible and Marketplace capabilities, positioning us for further growth within government-sponsored programs. “We are excited to complete our acquisition of Meridian,” says Ken Burdick, CEO of WellCare. WellCare will diversify its Medicaid portfolio through the addition of Michigan, where Meridian has the No. Meridian was expected to generate more than $4.3 billion in total revenue in 2018. David Cotton in 1997 as Health Plan of Michigan, Meridian (the name change came in 2008) is one of the largest privately held, for-profit managed care organizations in the United States and serves about 1.1 million members as of May 1 in Michigan, Illinois, Indiana, and Ohio. In May, WellCare announced it had entered into a definitive agreement to acquire Meridian for $2.5 billion in cash.
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