Kirkland & Ellis LLP advised WellCare Health Plans, Inc. (NYSE: WCG) on its acquisition of Universal American Corp. (NYSE: UAM) for approximately $800 million. WellCare focuses on providing government-sponsored managed care services to families, children, seniors and individuals with complex medical needs, serving approximately 3.8 million members nationwide. Universal American provides health benefits to people covered by Medicare. The transaction is subject to approval by Universal American’s stockholders and other customary closing conditions, including antitrust and regulatory approvals. The transaction is expected to close in the second quarter of 2017. The full release is available here.
The Kirkland team was led by corporate partners Sarkis Jebejian, Laura Sullivan and associates Keri Schick and Erika Lopez; executive compensation partner Michael Krasnovsky and associates Shilpa Gokhale and Julia Onorato; tax partner Russell Light; and capital markets partner Tim Cruickshank. Anat Hakim is senior vice president, general counsel and secretary at WellCare. Michael Haber is vice president, corporate transactions and executive compensation at WellCare.