Corporate and finance partner Scott Schwartz and Manatt Health partner Robert Belfort led a Manatt team representing CVS Health Corporation, a Fortune 100 Corporation, in the acquisition of Centene Corporation’s Illinois health plan subsidiary, IlliniCare Health Plan, Inc. The transaction, which was announced on December 2, will expand CVS Health’s Medicaid and Medicare Advantage presence in Illinois, and allow it to strengthen relationships with state and local providers.
This transaction is subject to U.S. federal antitrust clearance, receipt of Illinois state regulatory approvals and other customary closing conditions, which include the closing of the merger between Centene and WellCare Health Plans, Inc., that is expected to close during the first half of 2020.
Manatt acted as both transactional counsel and healthcare regulatory counsel to CVS Health.
The Manatt team also included employment and labor partner Sharon Bauman; tax, employee benefits and executive compensation partners David Herbst and Robert Duran; real estate and environment counsel Matthew Dombroski; corporate and finance associate Ben Ryzak; and healthcare transactional associate Nioura Ghazni on transactional matters. Manatt Health partner Steve Chiu and Manatt Health associates Alexander Dworkowitz, Michael Herrmann and Christopher Rundell advised on healthcare regulatory matters.