Centene (CNC), which is acquiring fellow healthcare insurer WellCare Health Plans (WCG), said Friday that WellCare’s current CEO and CFO will join the combined company in executive leadership positions.
WellCare’s CEO Ken Burdick and CFO Drew Asher will report directly to Michael Neidorff, CEO of Centene, the company said.
Centene said it will provide further information on the combined company’s organizational structure and leadership team at its Investor Day scheduled for June 14.
Centene on March 27 agreed to acquire WellCare in a $17.3 billion billion cash-and-stock deal to create a “premier healthcare enterprise focused on government-sponsored healthcare programs.”
The merger, expected to close by the first half of 2020, is subject to approval by Centene and WellCare shareholders and other customary closing conditions.