Centene Corp. has agreed to acquire QualChoice Health Insurance, the Arkansas Democrat-Gazette reported, citing representatives of the two companies.
QualChoice CEO Randall Crow and a Centene spokesman reportedly confirmed that the two companies have agreed on the sale. However, the two entities did not respond to the news outlet's questions seeking further details about the transaction.
The entities will remain independent until the sale is finalized and approved by Arkansas Insurance Commissioner Allen Kerr, according to the report.
The report comes after QualChoice's owner, Catholic Health Initiatives, said in a Nov. 29, 2018, quarterly financial report that it signed a nonbinding letter of intent to sell the QualChoice Health commercial operations in Arkansas.