Buyout rumors healthy for WellCare stock

By Kris Hundley, Times Staff Writer
Posted: May 12, 2008 07:10 PM

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Shares of WellCare Health Plans Inc. continued to inch up Monday as rumors of a possible buyout persisted. The Tampa managed-care company saw its stock price rise to $49.31, up $1.31 for the day, as speculation swirled that UnitedHealth, Aetna or Humana might be interested in WellCare's Medicare and Medicaid business. Analysts warned that an ongoing federal investigation into WellCare probably needs to be resolved before any such transaction is final. WellCare has declined to comment on buyout rumors. A spokeswoman for the company also declined to confirm a claim on the Wall Street Journal's health blog that WellCare's board has decided to add three seats. "If any appointments are made to our board, we will announce them when appropriate," said spokeswoman Amy Knapp.