TAMPA, Fla., May 1, 2017 /PRNewswire/ -- WellCare Health Plans, Inc. (NYSE: WCG) ("WellCare") announced today that it completed the acquisition of certain assets, including Arizona Medicaid membership and certain provider contracts, from Phoenix Health Plan ("PHP"), a wholly owned managed care subsidiary of Tenet Healthcare Corporation (NYSE: THC). The transaction includes the transfer of approximately 44,000 Medicaid members to Care1st Health Plan Arizona, Inc. ("Care1st Arizona"), a wholly owned subsidiary of WellCare. The transaction was funded with available cash on hand. The financial terms of the transaction were not disclosed.
"This transaction complements our Care1st Arizona business which we acquired at the end of 2016 and demonstrates our commitment to serving Arizona's Medicaid beneficiaries," said Ken Burdick, WellCare's chief executive officer. "We will continue to partner with the state and local providers to deliver coordinated health care services to improve the health of Arizonans."
"We are thrilled to serve more Medicaid beneficiaries in Arizona," said Scott Cummings, WellCare's state president, Arizona. "Providing our members with access to high-quality health care is our first priority, and we are focused on ensuring a smooth transition and continuity of care for PHP Medicaid members."
New WellCare members who were previously with PHP can visit https://www.care1st.com/az or call 1-866-560-4042 toll-free for assistance with questions.
About WellCare Health Plans, Inc.
Headquartered in Tampa, Fla., WellCare Health Plans, Inc. (NYSE: WCG) focuses exclusively on providing government-sponsored managed care services, primarily through Medicaid, Medicare Advantage and Medicare Prescription Drug Plans, to families, children, seniors and individuals with complex medical needs. The company served approximately 3.9 million members nationwide as of December 31, 2016. For more information about WellCare, please visit the company's website at www.wellcare.com.
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SOURCE WellCare Health Plans, Inc.