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Health Net considered takeover options since 2013
Modern Healthcare

Health Net, the Woodland Hills, Calif.-based insurer that is being acquired, had explored the market for almost two years before inking its sale to Centene Corp. this summer, a regulatory filing shows.

Further, when Centene and Health Net were in discussions this past June, Centene CEO Michael Neidorff wanted to get a deal done as quickly as possible due in part to the merger speculation that was swirling in the health insurance industry.

Health Net’s board hired several financial advisers, including J.P. Morgan, in September 2013 to identify “potential strategic partners and the consideration of a potential business combination,” according to a filing with the Securities and Exchange Commission. Health Net sells private Medicaid, Medicare Advantage and exchange plans along the West Coast.