Centene's St. Louis headquarters | Courtesy of Centene Corp.

Health insurer Centene to buy Fidelis Care for $3.75 billion



Centene Corp. is buying New York-focused, privately held Fidelis Care for $3.75 billion, the Clayton-based insurer announced Tuesday.

The acquisition will help Centene expand its government-sponsored health care coverage to New York, the state with the second-largest managed care membership, the company said.

With Fidelis, Centene now has a significant footprint in the four states with the largest managed care membership: California, Florida, New York and Texas.

Centene said it intends to fund the purchase with $2.3 billion in new equity and $1.6 billion of new long-term debt.

The deal is expected to close in the first quarter of 2018.

Read more: St. Louis Post-Dispatch

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