Wall Street was surprised when the deal went through, expecting Centene to be the one to be acquired by a larger health insurer. Centene fell 6% on Wednesday.
Analysts and investors expected to see Centene be the takeover target for one of the big commercial plans that needed to bulk up its presence in government-sponsored programs, like Cigna or now-CVS-owned Aetna. However, the two are already tied up working through their own mega-mergers.We got a look at the slide deck that buzzy startup Devoted Health used to hit a $1.
Divesting in Georgia and Missouri, he said, would reduce the two's combined Medicaid enrollment by 20%. But it's possible the divestitures might not have to happen at all, Twizell said. State Medicaid organizations could simply restructure so there are more plan options beyond what Centene/WellCare offer.We got our first look at CVS Health's financials since its $70 billion takeover of Aetna, and it's going to be a bumpier year than Wall Street expected
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