Health care giant Centene (CNC) is buying its smaller Tampa-based competitor WellCare (WCG) for $17.3 billion, the companies announced today.
The deal "will create a premier healthcare enterprise focused on government-sponsored healthcare programs and a leader in Medicaid, Medicare and the Health Insurance Marketplace," they said in a joint statement.
The new entity would have about 22 million members across the country, and a combined revenue of $97 billion.
WellCare shares jumped over 17% in premarket trading, while Centene stock was down 1.8%.
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