Centene Corp. announced Thursday that it has completed the $6 billion acquisition of Health Net, making it the largest Medicaid managed care company in the country.
The completion of the Centene-Health Net acquisition comes on the heels of securing the final regulatory approvals needed to move forward. On Tuesday, a pair of California regulators signed off on the deal.
Centene’s board of directors will increase to 10 members with the addition of Vicki Escarra, a director of Woodland Hills, Calif.-based Health Net and CEO of Opportunity International, a Chicago-based nonprofit that provides small business loans across the globe.
Along with the acquisition, Centene announced it will be joining the Standard & Poor’s 500 index, effective March 29. This will be the sixth St. Louis area company on the S&P 500, the companies include Ameren, Emerson, Express Scripts, Mallinckrodt and Monsanto.
Read more: St. Louis Post-Dispatch