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October 26, 2007 at 02:26 PM
A Florida health carrier says its board has formed a 3-member special committee to respond to government investigations and the investor lawsuits the investigations have triggered.
WellCare Health Plans Inc., Tampa, Fla., says Neal Moszkowski, the co-chief executive officer of TowerBrook Capital Partners L.P., New York, and a former chairman of the WellCare board, will lead the special committee.
WellCare manages Medicare and Medicaid plans.
Many different federal and state agencies joined to execute a sealed search warrant at the company’s headquarters Wednesday.
The list includes the U.S. Department of Justice, the Federal Bureau of Investigation, the U.S. Department of Health and Human Services inspector general’s office and the Florida attorney general’s Medicaid fraud control unit, WellCare says.
On Thursday, WellCare received requests for information from the U.S. Securities and Exchange Commission, the company says.
“The special committee is authorized to monitor developments in these investigations and to oversee the company’s response to them,” WellCare says. “It is also authorized to facilitate communication between the company’s management and its board of directors regarding these matters.”
