WellCare Health Plans in June 2018 announced that it has acquired Meridian Health Plan of Michigan, Meridian Health Plan of Illinois, and MeridianRx, a pharmacy benefit manager (PBM) for $2.5 billion in cash. The transaction is expected to close by the end of 2018. Meridian expects to generate more than $4.3 billion in total revenue in 2018. As a result of this transaction, WellCare will diversify its Medicaid portfolio through the addition of Michigan state, where