WellCare Health Plans announced Tuesday they have agreed to acquire Medicaid insurer, Meridian Health Plan, for $2.5 billion. Along with the large volume of Medicaid recipients and benefits, WellCare will also benefit from adding MeridianRx to its portfolio.

On Tuesday, WellCare CEO Kenneth Burdick said the deal "will grow and diversify our Medicaid and Medicare Advantage businesses" and "add new and enhance existing capabilities".

Read more about this merger by clicking here.

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