WCG on NYSE

WellCare

American health insurance company

WellCare Health Plans, Inc. is an American health insurance company that provides managed care services primarily through Medicaid, Medicare Advantage and Medicare Prescription Drug plans for members across the United States.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 18, 2026.

Overview

1985Founded1

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  • TickerWCG on NYSE1
  • Industryhealth care1
  • HeadquartersTampa1
  • Websitewww.wellcare.com
  • Incorporated inDE4
  • Business address8735 Henderson Road, Renaissance One, Tampa, Fl 336344
  • Filer categoryLarge accelerated filer4

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WellCare Health Plans, Inc. is an American health insurance company that provides managed care services primarily through Medicaid, Medicare Advantage and Medicare Prescription Drug plans for members across the United States.3

The story

Founded by Kiran C. Patel in 1985.1

WellCare began operations in 1985 in Tampa, Florida as a Medicaid provider for the State of Florida. In 1992, Kiran Patel, a cardiologist and entrepreneur, purchased the company.

In 2002, Patel sold it to a New York investment group led by George Soros and Todd Farha. That same year, Farha joined the company as CEO.

In 2004, WellCare became a public company via an initial public offering. The company opened on New York Stock Exchange with a sale of 7.3 million shares, each share priced at $17. In 2006, WellCare began offering Medicare Advantage plans with prescription drug benefits after the signing of the Medicare Prescription Drug, Improvement, and Modernization Act in 2003.

Also, in 2006, WellCare began offering Medicare Part D plans.

2007 Florida investigations

On October 24, 2007, law enforcement agents executed a search warrant on WellCare's headquarters in Tampa, based on a whistleblower complaint that provided evidence of WellCare inflating patients' treatment costs and not returning overpayments to the state. The complaint also named several employees who knew about the activities.

In 2011, the SEC filed criminal charges against four WellCare executives. In 2013, the executives, including former CEO Todd Farha, were found guilty of the charges, including healthcare fraud and making false statements to law enforcement. Between 2008 and 2012, the company agreed to pay $217.5 million to settle the claims against them.

2008–2019

In January 2008, Heath Schiesser was promoted to president and CEO, replacing Todd Farha. Schiesser was replaced in December 2009 by Alec Cunningham.

In November 2013, WellCare appointed Chairman David Gallitano as interim CEO.

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In 2018, 2019, and 2020 Fortune magazine named WellCare as one of the World's Most Admired Companies.

Centene acquisition

In January 2020, Centene Corporation acquired the company for $17 billion. Following the merger, WellCare's CFO Andrew Asher became the CFO of Centene and CEO Kenneth Burdick joined the executive team at Centene.

From Wikipedia’s article on WellCare, shared under CC BY-SA 4.0.5

Leadership

Who has led WellCare, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Todd S. Farha2006–2007
  2. Heath Schiesser2008–2009
  3. Alexander R. Cunningham2010–2013
  4. David J. Gallitano2013–2014
  5. Ken Burdick2015–2020

Chair

  1. Todd S. Farha2006–2007
  2. Charles Berg2010
  3. David J. Gallitano2014

President

  1. Todd S. Farha2006
  2. Imtiaz Sattaur2006–2007
  3. Heath Schiesser2008–2009
  4. Adam Miller2008–2009
  5. Alexander R. Cunningham2009
  6. Daniel Parietti2009–2010
  7. Michael Lester Cotton2009–2010
  8. Jesse Thomas2010–2012
  9. Marc Russo2010–2012
  10. Dan Paquin2012–2013
  11. Ken Burdick2014

Chief financial officer

  1. Paul L. Behrens2006–2007
  2. Thomas L. Tran2008–2014
  3. Andrew Lynn Asher2015–2020

Chief operating officer

  1. Adam Miller2007–2008
  2. Rex M. Adams2008–2010
  3. Ken Burdick2014
1990200020102020
Board members and other officers (56)

Acquisitions

In November 2012, Wellcare acquired Easy Choice Health Plan in California.

UnitedHealthcare's South Carolina Medicaid business was acquired in February 2013. In April of that year, Aetna's Medicaid business in Missouri, Missouri Care, was acquired.

The Windsor Health Group was acquired by WellCare in January 2014.

In January 2017 Care1st Health Plan Arizona, a subsidiary of Care1st Health Plan and Blue Shield of California affiliate was acquired. Wellcare purchased Universal American and Phoenix Health Plan, formerly a subsidiary of Abrazo Community Health Network, a subsidiary of Tenet Healthcare in May 2017.

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Meridian Health Plans of Detroit, Michigan, was acquired in September 2018.

In September 2019, Aetna's Medicare prescription insurance business was acquired as a condition of CVS Health's acquisition of Aetna.

From Wikipedia’s article on WellCare, shared under CC BY-SA 4.0.5

Former names

  • WELLCARE GROUP INCFeb 13, 2004 to Jul 8, 20044

Timeline

  1. Mar 3, 2015New chief executive Ken Burdick becomes CEO6
  2. Nov 1, 2013New chief executive David J. Gallitano becomes CEO7
  3. Mar 16, 2010New chief executive Alexander R. Cunningham becomes CEO8
  4. Jan 29, 2008New chief executive Heath Schiesser becomes CEO9
  5. Jan 31, 2006New chief executive Todd S. Farha becomes CEO10
  6. 1985Founded Founded1

Members of Congress who traded it

1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jan 24, 2020Gilbert Ray Cisneros, Jr.Democratic, HouseExchange$1,001 - $15,000Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

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