Reuters reports:
Aetna Inc. said on Tuesday it agreed to sell its Missouri Medicaid business to WellCare Health Plans Inc. as part of its purchase of Coventry Health Care Inc. because their combined Missouri businesses had exceeded Medicaid membership limits.
Aetna said in August that it planned to buy Coventry for about $5.6 billion to expand its Medicaid government health insurance business for the poor and disabled.
The deal, which it expects to complete in mid-2013, has been under review by U.S. antitrust regulators.
Aetna said that Missouri Care provides managed care to more than 100,000 members. It said that Coventry’s business in Missouri, HealthCare USA, has 250,000 members.
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