Centene and Magellan Wellness reported they have received “all required regulatory approvals” required to close Centene’s $2.2 billion acquisition of the behavioral well being business.

The corporations foresee closing the transaction following 7 days on Jan. 4, roughly one particular 12 months right after Centene declared the acquisition in a transfer to combine the health care health and fitness rewards it currently sells with behavioral health offerings.

The deal could be the very last main acquisition by Centene chairman and chief executive officer Michael Neidorff who is retiring as the company’s top govt. Neidorff, who has been Centene’s CEO since 1996, will just take on a new part as government chairman until finally the end of 2022.

“Our blended company will have expanded access in a wide variety of specialty solutions and will present enhanced access to behavioral wellness treatment all through a time of want for the communities we provide,” Neidorff mentioned Thursday of the addition of Magellan Wellbeing.

Beneath Neidorff, Centene has already developed into a bigger enterprise with projected revenues of extra than $125 billion in 2021 as Americans indication up for Medicaid, the overall health insurance coverage for very low income people it manages by means of contracts with states and particular person protection under the Affordable Care Act recognized as Obamacare. And Centene has expanded into the organization of Medicare Edge, the privatized health rewards myriad health and fitness insurers provide senior by way of agreement with the federal authorities.

But introducing Magellan Wellbeing will “broaden and deepen Centene’s whole wellness capabilities and establish a leading behavioral well being platform,” the enterprise reported when the deal was declared in January of this 12 months. “The blended system lays the basis by which the firm…