WellCare Acquires Certain Assets from Healthfirst New Jersey

Tampa, Fla. (July 1, 2014) - WellCare Health Plans, Inc. (WCG) today announced that its New Jersey subsidiary has completed the acquisition of Medicaid assets from Healthfirst Health Plan of New Jersey, Inc. (Healthfirst NJ). The acquired assets primarily are associated with the approximately 42,000 Healthfirst Medicaid members who are expected to be transferred to WellCare`s Medicaid plan, as well as certain provider agreements. The financial terms of the transaction were not disclosed.   "This acquisition helps to strengthen our relationship with the state to deliver quality, cost-effective health care solutions for New Jersey`s underserved residents," said Dave Gallitano, WellCare`s chairman of the board and CEO.   Medicaid plan members will remain enrolled and will experience no changes in their 2014 plan benefits. Members will receive a new ID card in the mail with an updated phone number for the 24-hour nurse advice line. Providers should now begin to use the WellCare claims submission process at this time. Providers will also receive additional information by mail. Members and providers can call 1-888-453-2534 or TTY # 877-247-6272 if they have any questions.    Prior to the Healthfirst NJ transaction, WellCare served Medicaid members, Medicare Advantage members and Medicare Prescription Drug Plan members in New Jersey.   About WellCare Health Plans, Inc. WellCare Health Plans, Inc. provides managed care services targeted to government-sponsored health care programs, focusing on Medicaid and Medicare. Headquartered in Tampa, Fla., WellCare offers a variety of health plans for families, children, and the aged, blind, and disabled, as well as prescription drug plans. The company serves approximately 3.5 million members nationwide as of March 31, 2014. For more information about WellCare, please visit the company`s website at www.wellcare.com.   -END-     CONTACTS: Investor Relations Gregg Haddad 813-206-3916 gregg.haddad@wellcare.com   Media Relations Crystal Warwell Walker 813-206-2697 crystal.walker@wellcare.com

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Source: WellCare Health Plans, Inc. via GlobeNewswire

Source : https://finance.yahoo.com/news/wellcare-acquires-certain-assets-healthfirst-123202507.html

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