IPO Profile

WellCare Group
6800 North Dale Mabry Highway, Suite 268 Tampa, Florida 33614
Tel: 813-290-6200
Web:
Ticker: WCG
Stock Exchange: New York Stock Exchange
Shares Issued: 7,333,333.00
Price Offered: $17.00
Amount Raised: $124,610,000.00

Underwriters:
Morgan Stanley & Co.
CS First Boston
SG Cowen
Raymond James


Company Description:
We provide managed care services targeted exclusively to government-sponsored healthcare programs, focusing on Medicaid and Medicare. We have centralized core functions, such as claims processing and medical management, combined with targeted marketing and provider services tailored to the local markets where we operate. We believe that this approach allows us to provide high-quality, affordable healthcare services to our members and offer cost saving opportunities to the states we serve, while maintaining mutually beneficial relationships with our providers and our regulators. We also believe that our approach to the delivery of managed care services will allow us to effectively grow our business, both through organic growth and acquisitions. We operate health plans in Florida, New York and Connecticut. In Florida, we serve more than 475,000 members, and operate the two largest Medicaid managed care plans. In New York and Connecticut, we serve approximately 56,000 and 24,000 members, respectively.