WellCare Ousts CEO Even Though Earnings Up
Tampa-based WellCare Health Plans, Inc. has replaced chief executive officer Alec Cunningham with chairman David Gallitano.
“As the company continues to expand and grow, the board felt that it was necessary to identify a new experienced leader to help write the next chapter for WellCare,” the managed-care services company said in a news release. A national search for a new CEO is underway. Gallitano will not be considered in the nationwide search, according to Jack Maurer, WellCare’s vice president for corporate communications
Meanwhile, the company also released its results for the third quarter, which showed earnings increased 67 percent. The company attributes its higher revenues in part to increased revenue in its Medicaid and Medicare Advantage plans in Florida and other states.
That earnings report also mentioned the contracts the company expects to get in Florida in the switch to statewide managed care by Florida’s Agency for Health Care Administration.
WellCare serves about 2.8 million Medicare and Medicaid members nationwide.