A unit of Centene Corp. (NYSE:CNC) has agreed to buy Carolina Crescent Health Plan Inc.
Absolute Total Care Inc. would be acquiring Carolina Crescent from University Health Services Inc., a part of the Virginia Commonwealth University Health System Authority, Richmond, Va.
Absolute is a unit of Centene, St. Louis, that has been running a small Medicaid plan in South Carolina.
Carolina Crescent has about 40,000 Medicaid plan members in South Carolina.
Absolute and Carolina Crescent hope to complete their deal by Sept. 30, according to Harris Williams & Company, New York, the investment firm that is advising Carolina Crescent.