Corporate Report: July 27

WellCare Health Plans buying Desert Canyon members
Tampa-based WellCare Health Plans Inc. has reached an agreement to acquire a number of the assets of Arcadian Health Plan Inc.'s Desert Canyon Community Care Medicare Advantage plans in Arizona. The U.S. government is requiring Humana Inc. to sell off a number of the assets of Arcadian Health as part of its acquisition of the company.

WellCare is not disclosing the financial terms of the transaction.

Under the agreement, Desert Canyon members in Mohave and Yavapai counties will become WellCare of Arizona members on Jan. 1. Desert Canyon health care plans currently have 5,000 members in those counties.