Centene unit to acquire membership of Medicaid plan in Illinois

Centene’s (NYSE:CNC) Illinois subsidiary, Meridian Health Plan of Illinois has entered into a Member Transfer Agreement with NextLevel Health Partners (NLHP), a health plan serving Medicaid members in Cook County, Illinois.

Under the agreement, Meridian will be assigned 100% of NLHP’s approx. 54,000 members who access benefits from the Illinois’ HealthChoice Illinois Program.

As part of the agreement, Meridian has executed a care coordination agreement with NLHP to ensure continuity of care for a subset of the assigned membership, effective concurrently with the closing of the transaction.

Centene provided the initial capital NLHP needed to obtain its HMO licensure at the end of 2017.

The transaction is expected to close in July.

https://seekingalpha.com/news/3587262-centene-unit-to-acquire-membership-of-medicaid-plan-in-illinois