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Commissioner approves acquisition of WellCare of Alabama

Contact: Jennifer Bowen

(334) 269-3550

6/19/2019

The Alabama Department of Insurance has approved the acquisition of WellCare of Alabama, Inc., by Centene Corporation.

Insurance Commissioner Jim Ridling signed an order approving the acquisition of the Alabama-domiciled health maintenance organization on Tuesday.

The approval comes after a June 12 public hearing was held to consider the proposed acquisition.

Ridling found that after the acquisition, WellCare of Alabama, Inc. will be able to satisfy the requirements for issuance of a license for a health maintenance organization for which it is presently licensed.

“I find that the proposed transaction will not substantially lessen competition, will not create a monopoly and will not lead to a materially significant increase in an insurer’s market concentration in any line of insurance business in this state,” the order signed by Ridling reads.

To read the order, click here