The Meridian acquisition brought a top-rated Medicaid plan in Michigan and the largest plan by membership in Illinois– giving WellCare the number one Medicaid market share position in both states.”
Growing and diversifying WellCare.
The $2.5 billion Meridian acquisition finalized on September 1 solidified 2018 as an exceptional growth year for WellCare. A top-rated Medicaid plan in Michigan with approximately 508,000 members and the largest plan by membership in Illinois with approximately 565,000 Medicaid members, Meridian gives WellCare the number one Medicaid market share in both states.
Overall, this transaction grew and diversified our Medicaid membership by over 40 percent. Meridian also expands our Medicare Advantage business with the addition of 27,000 members in Illinois, Indiana, Michigan and Ohio.
Bill Keena, VP of the Integration Management Office, oversees the process. “My team’s job is to go in and listen very carefully,” said Keena. “Ultimately we are charged with ensuring we keep the best practices from both companies. The idea is to emerge as a combined company, stronger than either one was before.”
“Meridian is a mission-driven, innovative culture that focuses on customer satisfaction and quality,” said Kelly Munson, EVP Medicaid. “In this way, we are very much alike. What they also bring is a younger workforce and a more entrepreneurial culture with innovative practices in areas such as training, job rotation and hiring.”
Sean Kendall, Meridian’s plan president, continues to lead this business. Kendall explained, “Meridian’s values were passion, quality, integrity and vision and WellCare’s are partnership, accountability, integrity and one team. While the words are slightly different, what supports those values is foundationally the same, making for a smooth integration and an ability to really focus on creating enhanced value for our stakeholders.”