Aetna Sells Mo. Medicaid To Seal $5.7B Coventry Deal

Law360, New York (January 22, 2013, 6:12 PM EST) -- Health insurer Aetna Inc. has agreed to sell its 100,000-member Missouri Medicaid business to WellCare Health Plans Inc. for an undisclosed sum as part of its planned $5.7 billion purchase of Coventry Health Care Inc., which is under review by antitrust authorities, the company said Tuesday.

Aetna said that it intends to operate Coventry's 250,000-member Missouri Medicaid business after the merger is completed but that combining the two plans would violate a stipulation of Missouri Medicaid contracts limiting the percentage of members a plan can hold...
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