Centene Corp. (NYSE: CNC) is buying a majority stake in U.S. Medical Management LLC for about $200 million.
U.S. Medical, headquartered in Troy, Mich., provides in-home health services. The deal is expected to close in the first quarter of 2014.
Centene says the deal aligns with the company’s goal to provide integrated care to aged, blind, disabled, long-term care, dual-eligible and Medicare populations. The company is picking up a 68 percent stake in U.S. Medical.
The health care sector has been experiencing droves of M&A transactions. Recently, Kindred Healthcare Inc. (NYSE: KND) agreed to buy Senior Home Care Inc., which owns nursing homes, for $95 million. In November, U.S. HealthWorks bought the Urgent Medical Care center in Pompano Beach, Fla. to expand its urgent care network.
For more, see “ACA Reshuffles the Deck.”