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WellCare Planning to Borrow $600M

Tampa-based WellCare Health Plans Inc. is planning to borrow $600 million, the Tampa Bay Business Journal reports. The company, which provides managed care services for Medicaid and Medicare health plans, will issue senior notes in a public offering. In a statement, the company said it plans to use the loan to payoff a senior secured credit agreement; it will also use the cash for potential acquisitions and growth opportunities.

Originally founded in December 2006 as an independent grassroots publication dedicated to coverage of health issues in Florida, Health News Florida was acquired by WUSF Public Media in September 2012.