Kirkland & Ellis LLP advised WellCare Health Plans, Inc. (NYSE: WCG) on its acquisition of Meridian Health Plans of Michigan, Inc., Meridian Health Plans of Illinois, Inc., and MeridianRx, a pharmacy benefit manager (PBM), (collectively, “Meridian”) for $2.5 billion in cash. WellCare focuses on providing government-sponsored managed care services to families, children, seniors and individuals with complex medical needs, serving approximately 4.3 million members nationwide. Meridian is one of the largest privately held, for-profit managed care organizations in the U.S. The transaction is expected to close by the end of 2018 and is subject to customary closing conditions and regulatory approvals. The full press release is available here.
The Kirkland team was led by corporate partner Sarkis Jebejian and associates Keri Schick Norton, Jack Kider and Emma Julian; debt finance partners Judson Oswald and Kristen Derhaag; capital markets partners Joshua Korff and Tim Cruickshank; and tax partner Russell Light and associate Lexie Maravich.