Centene clears regulatory requirements for $2.2B acquisition of Magellan Health

Matt O'Connor | | Health Exec | Precision Medicine

Centene has gained the regulatory approvals needed to close its multi-billion-dollar acquisition of Magellan Health, the pair announced Dec. 30.

St. Louis-based Centene said it expects to close the deal on or soon after Tuesday, Jan. 4, nearly one year after it was first announced.

The $2.2 billion acquisition will allow Centene to offer healthcare solutions across both physical and mental health settings for improved outcomes at lower costs.

"We are pleased to achieve this regulatory milestone, and we look forward to a timely close of the transaction,” Michael Neidorff, Centene’s chairman and CEO, said in a statement. “Our combined company will have expanded reach in a variety of specialty services and will provide increased access to behavioral healthcare during a time of need for the communities we serve.”

Centene has been busy over the past few years, acquiring WellCare Health Plans in January 2020 for an estimated $17.3 billion. And back in 2018, the Fortune 25 company teamed with Catholic health giant Ascension to launch a Medicare Advantage plan.

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Matt O'Connor

Matt joined Chicago’s TriMed team in 2018 covering all areas of health imaging after two years reporting on the hospital field. He holds a bachelor’s in English from UIC, and enjoys a good cup of coffee and an interesting documentary.

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