CENTENE SET TO BUY FIDELIS CARE FOR $3.75B

Centene, the nation’s largest Medicaid managed care plan provider, agreed Tuesday to buy Fidelis Care for about $3.75 billion, a move to enter the lucrative New York state market. Under the deal, Fidelis, which sells health insurance plans to New York state residents and has 1.6 million members, will become Centene’s health plan in the state. The acquisition allows Centene, based in

St. Louis, to have a sizable presence in the country’s four largest states in health insurance membership — California, Florida, New York and Texas. Centene specializes in Medicaid managed care plans, which are the private-market option for Medicaid recipients. Medicaid, funded by federal and state governments, is a government health program for low-income Americans and also runs its own public option.