Centene Corp. entered into a definitive agreement to acquire AcariaHealth, Inc. from Enhanced Equity Fund II, L.P. managed by Enhanced Equity Fund, L.P. and affiliates for approximately $150 million.

Centene Corp. (NYSE:CNC) entered into a definitive agreement to acquire AcariaHealth, Inc. from Enhanced Equity Fund II, L.P. managed by Enhanced Equity Fund, L.P. and affiliates for approximately $150 million on January 14, 2013. The transaction consideration will be financed through a combination of Centene common stock, cash on hand and existing credit facilities.

The acquisition is subject to regulatory approval and other customary conditions. The transaction is expected to close in the first quarter of 2013. Centene expects the acquisition to be neutral to earnings per share in the first 12 months following the acquisition, excluding one-time transaction costs.

Morgan Stanley acted as financial advisor for Centene Corp. Gerald Nowak, Karen Sheffler and Matthew Mauney of Kirkland & Ellis LLP acted as legal advisors for Centene Corp. Barclays Capital plc acted as financial advisor for AcariaHealth.