With this deal, WellPoint is signaling its interest in moving beyond its traditional health coverage business. CareMore is known for its ability to provide intense monitoring and treatment of chronically ill older patients while holding down costs.
Los Angeles Times: WellPoint To Buy CareMore Health Group For About $800 Million
Cerritos healthcare provider CareMore Health Group is being acquired by health insurance giant WellPoint Inc. for about $800 million as part of an effort to bolster the insurer's profile in senior care as baby boomers age (Li, 6/9).
The Wall Street Journal: WellPoint To Buy Senior Health-Care Provider
In purchasing senior health-care provider CareMore Health Group, WellPoint Inc. signaled the growing reach of the insurance industry, as carriers ramp up outside their traditional health-coverage business (Wilde Mathews and Loftus, 6/9).
Indianapolis Star Tribune: Deal Gives WellPoint Senior Provider
For the first time, WellPoint will get more deeply involved in direct patient care with its plan to buy a California Medicare health plan. The for-profit Medicare contractor, CareMore Health Group, has pioneered the practice of intensely monitoring and treating chronically ill older patients in order to improve their health while holding down their government-paid medical bills. WellPoint, which is based in Indianapolis and is the nation's largest health insurer by enrollment, said Wednesday it may expand CareMore's innovative methods to all states where WellPoint does business, including Indiana (Swiatek, 6/9).