WellCare profit swells in Q3
October 30, 2019 - WellCare Health Plans (NYSE: WCG), a Tampa-based managed healthcare provider, reported net income of $241 million, or $4.74 a share, on revenue of $7.1 billion for the third quarter of 2019. Revenue was up 41 percent from the year-ago period and net income increased 85 percent. The jump in revenue largely was due to an acquisition last year, while the increase in net income "primarily reflects growth across all business segments and continued operational execution," WellCare said in a news release. The company, with 6.35 million total members at Sept. 30, has agreed to be acquired by Centene (NYSE: CNC) in 2020.