Newspaper article St Louis Post-Dispatch (MO)

Health Insurer Centene to Buy Fidelis Care for $3.75 Billion

Newspaper article St Louis Post-Dispatch (MO)

Health Insurer Centene to Buy Fidelis Care for $3.75 Billion

Article excerpt

Centene Corp. is buying New York-focused, privately held Fidelis Care for $3.75 billion, the Clayton-based insurer announced Tuesday.

The acquisition would help Centene expand its government-sponsored health care coverage to New York, the state with the second-largest managed care membership, the company said.

With Fidelis, Centene now has a significant footprint in the four states with the largest managed care membership: California, Florida, New York and Texas.

Centene's core business is to contract with states to manage the health care benefits for certain populations, including those who are eligible for Medicaid, the health insurance program for the poor.

Fidelis Care offers affordable health insurance coverage to New York residents and has more than 1. …

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