Centene Corp. completed its purchase of a majority stake of approximately $200 million in U.S. Medical Management LLC on Monday.
St. Louis-based Centene provides programs and related services to under-insured and uninsured individuals. It bought the majority interest with about one-third cash and two-thirds Centene stock. Michigan-based U.S. Medical Management is a management services organization and also provides in-home health services.
In a separate deal, Centene announced in December that it would purchase a majority interest in Fidelis SecureCare of Michigan Inc., which is a subsidiary of Fidelis SeniorCare Inc., based in Schaumburg, Ill. Under the arrangement, Centene and Fidelis will own and operate Fidelis SecureCare Michigan health plan. The transaction is expected to be completed during the fourth quarter of 2014.