Davis Polk is advising Aetna Inc. on its sale of Missouri Care, its Missouri Medicaid business, to WellCare Health Plans, Inc. Financial terms were not disclosed. The transaction is subject to customary closing conditions, including regulatory approval. The sale of Missouri Care is related to Aetna’s pending acquisition of Coventry Health Care, Inc., which was announced in August 2012.
Aetna is one of the nation’s leading diversified health care benefits companies, serving approximately 37.3 million people with information and resources to help them make better informed decisions about their health care. Missouri Care provides managed care services to more than 100,000 members in central, eastern and western Missouri.
The Davis Polk corporate team includes partners David L. Caplan and H. Oliver Smith, and associates Lee Hochbaum and Robert Rosen. Counsel John T. Wright and associate Julia Lapitskaya are providing employee benefits advice. Partner Harry Ballan and associate William A. Curran are providing tax advice. Associate Randy Samson is providing intellectual property advice. All members of the Davis Polk team are based in the New York office.
