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4-Traders Homepage  >  Equities  >  Nyse  >  WellCare Health Plans, Inc.    WCG

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WellCare Health Plans, Inc. : WellCare's 'Ohana Health Plan Selected to Serve Hawaii's Quest Medicaid Program

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01/23/2012 | 11:44pm CET

Tampa, Florida (January 23, 2012) - WellCare Health Plans, Inc. (NYSE: WCG) today announced that the Hawai'i Department of Human Services awarded 'Ohana Health Plan ('Ohana), a health plan offered by WellCare Health Insurance of Arizona, Inc., a contract to serve Hawaii's QUEST Medicaid program.

'Ohana is one of five health plans selected to serve approximately 230,000 beneficiaries across the state. Beneficiaries of the QUEST program include low-income individuals, families and children who are not aged, blind or disabled. Services are expected to begin on or about July 1, 2012, and 'Ohana will coordinate medical, behavioral and pharmacy services with a focus on improving health care access and the quality of care. The award is conditioned on the execution of a definitive contract.

'Ohana currently serves approximately 26,000 Hawai'i residents through its Aged, Blind, and Disabled Medicaid and Medicare Advantage Plans.

About WellCare Health Plans, Inc.

WellCare Health Plans, Inc. provides managed care services targeted to government-sponsored health care programs, focusing on Medicaid and Medicare. Headquartered in Tampa, Florida, WellCare offers a variety of health plans for families, children, and the aged, blind, and disabled, as well as prescription drug plans. The company served approximately 2.4 million members nationwide as of September 30, 2011. For more information about WellCare, please visit the company's website at www.wellcare.com.

Cautionary Statement Regarding Forward-Looking Statements

This news release contains "forward-looking" statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions are forward-looking statements. The company's financial outlook contains forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause WellCare's actual future results to differ materially from those projected or contemplated in the forward-looking statements. These risks and uncertainties include, but are not limited to, WellCare's progress on top priorities such as improving health care quality and access, ensuring a competitive cost position, and delivering prudent, profitable growth.

Additional information concerning these and other important risks and uncertainties can be found under the captions "Cautionary Statement Regarding Forward-Looking Statements" and "Risk Factors" in the company's Annual Report on Form 10-K for the year ended December 31, 2010, and other subsequent filings by WellCare with the U.S. Securities and Exchange Commission, which contain discussions of WellCare's business and the various factors that may affect it. WellCare undertakes no duty to update these forward-looking statements to reflect any future events, developments, or otherwise.

CONTACTS:
Investor relations
Gregg Haddad
813-206-3916
gregg.haddad@wellcare.com

Media relations
Denise Malecki
813-206-2747
denise.malecki@wellcare.com

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Financials ($)
Sales 2016 14 271 M
EBIT 2016 593 M
Net income 2016 219 M
Finance 2016 355 M
Yield 2016 -
P/E ratio 2016 28,37
P/E ratio 2017 22,82
EV / Sales 2016 0,41x
EV / Sales 2017 0,38x
Capitalization 6 194 M
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WellCare Health Plans, Inc Technical Analysis Chart | WCG | US94946T1060 | 4-Traders
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 130 $
Spread / Average Target -6,8%
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NameTitle
Kenneth A. Burdick Chief Executive Officer & Director
Christian P. Michalik Chairman
Michael Robert Polen Senior Vice President-Medicare & Operations
Andrew Lynn Asher Chief Financial Officer & Senior Vice President
Michael P. Radu SVP-Clinical Operations & Business Development
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