Health Net being acquired in $6.8 billion deal

"Los Angeles-based managed care provider Health Net is being acquired by Centene Corp. in a deal valued at $6.8 billion. The deal could mean job losses at Health Net offices in Rancho Cordova, where more than 2,400 of the Woodland Hills-based health insurer's employees work.

The deal, which is expected to close by early 2016, will add Health Net's Medicare platform to Centene's existing Medicaid programs and create a managed care firm with more than 10 million members nationwide and approximately $37 billion in revenue."

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