Centene to Buy AcariaHealth for $152M
Centene Corporation (NYSE: CNC) today announced that it has signed a definitive agreement to acquire Specialty Therapeutic Care Holdings, Inc. (d/b/a AcariaHealth), one of the nation's largest, independent, comprehensive specialty pharmacy companies, from Enhanced Equity Funds and affiliates for $152 million. The transaction consideration is anticipated to be financed through a combination of Centene common stock, cash on hand and existing credit facilities. The acquisition is expected to close in the first quarter of 2013, subject to regulatory approval and other customary conditions. The Company expects the acquisition to be neutral to earnings per share in the first 12 months following the acquisition, excluding one-time transaction costs.
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