WellCare Health Plans, Inc. is a leading provider of managed care services dedicated to government-sponsored healthcare programs, focusing on Medicaid and Medicare. WellCare operates a variety of Medicaid and Medicare plans, including health plans for families, children, the aged, blind and disabled, as well as prescription drug plans. Founded in 1985, WellCare serves more than 2.5 million members nationwide. On October 24, 2007, certain federal and state agencies executed a search warrant at the Company's headquarters in Tampa, Florida. WellCare is cooperating with the U.S. Department of Justice, the U.S. Federal Bureau of Investigation, the U.S. Department of Health and Human Services Office of Inspector General and the Florida Attorney General's Medicaid Fraud Control Unit. WellCare announced in November 2007 that the previously formed special committee of its Board of Directors will conduct an independent investigation into matters raised as part of the ongoing investigation and inquiries by certain federal and state agencies or other regulatory bodies or organizations as well as other governmental or private party proceedings that may commence.