Centene to buy WellCare for $15B creating ACA powerhouse

ST. LOUIS (AP) - With the Trump administration again taking aim at the Affordable Care Act, Centene will spend more than $15 billion on rival WellCare Health Plans, both big players in the ACA market.

The deal Wednesday comes two days day after the administration attacked the ACA in court, saying that former President Barack Obama's health care law should be declared unconstitutional after Congress repealed one part of it - unpopular fines on people who remain uninsured.

The deal would create a powerhouse medical provider in Medicare, Medicaid and the Affordable Care Act marketplace with about 22 million members in the U.S.

Centene Corp. shareholders will own about 71 percent of the business.

The companies put the deal's value at $17.3 billion.