WellPoint acquires CareMore

Health benefits giant WellPoint has agreed to purchase CareMore Health, a privately held, senior health care delivery group, in its bid to increase its share of the Medicare market.

California-based CareMore includes Medicare Advantage plans and clinics located in California, Arizona and Nevada. The deal would increase WellPoint’s holdings and is contingent on approval by state regulators.

Beginning as a medical group, CareMore eventually became a health plan and specializes in preventative care and care management for seniors. Following the acquisition, an additional 1 million baby boomers will become eligible for the program each year until 2030 in the 14 states in which WellPoint’s Blue Cross and Blue Shield brands have a presence.

For more on health care companies, see: