US advises on acquisition of Fidelis Care by Centene Corporation

Business September 15, 2017

Our New York, Dallas, Houston, San Antonio and Washington, DC offices represented New York State Catholic Health Plan, Inc., d/b/a Fidelis Care New York in the US$3.75 billion acquisition of its entire health insurance business by Centene Corporation, represented by Skadden, Arps, Slate, Meagher & Flom LLP. The deal has been covered extensively in the press, including CNBC, USA Today, Fortune, Forbes, WSJ and others.

Fidelis Care is a faith-based, mission-driven health plan that offers quality, affordable health insurance to the poor and underprivileged residents of the State of New York. It has a Board of Directors, and a Membership that consists of the Bishops of the Roman Catholic Dioceses throughout the state, and has more than 1.6 million members statewide. Fidelis Care is the only health plan to operate Medicaid, Child Health Plus and Managed Long Term Care in all 62 New York counties.

Centene Corporation is a Fortune 100 company that provides a variety of services to government sponsored and commercial health care programs. Similar to Fidelis Care, Centene programs focus on under-insured and uninsured individuals. After the anticipated closing in the first quarter of 2018, Centene Corporation's acquisition of Fidelis Care's insurance business will expand its national coverage to include the State of New York, the country's second largest managed care state by membership.

The team was led by Andrew Roth, with assistance from Warren Nimetz, William Stelwagon, Kim Gold, Alan Aronson, Michael Flamenbaum, James Dreyfus, Leslie Hung, Rachael Browndorf, Rita Astoor, James Lacey, Sue Ross, Neil Sparber, Krishna Kavi, Amy Herrera (New York), Denise Webb Glass, Caleb Segrest (Dallas), Elise LeGros, Hersh Verma (Houston), Jay Greathouse, Katie Cigarroa, Peter Rush (San Antonio), Daniel Wellington, Neely Agin, Luke McFarland and Chaula Mehta (Washington, DC).