BATON ROUGE, La. (AP) — St. Louis-based Centene Corp. says it has completed its acquisition of Community Health Solutions of America Inc.'s Louisiana Medicaid contract to its subsidiary, Louisiana Healthcare Connections Inc.
The Advocate reports (http://bit.ly/1xc85kG) the deal, announced Tuesday, is valued at $110 million to $140 million and includes a $14 million initial payment in cash and $56 million worth of Centene stock.
Community Health is one of five companies providing care to roughly 800,000 of Louisiana's 1.2 million Medicaid recipients.
Community Health's members can choose to move to one of four remaining plans under the Bayou Health initiative. They include United Healthcare of Louisiana, the only fee-for-service based provider remaining in the program, or Louisiana Healthcare Connections, AmeriHealth Mercy of Louisiana and AmeriGroup Louisiana, which receive monthly premiums to pay for policies.
Information from: The Advocate, http://theadvocate.com