Centene Corporation Announces Successful Award Of Expanded, Statewide Managed Care Contract For Missouri Subsidiary

News provided by

Oct 18, 2016, 08:49 ET

ST. LOUIS, Oct. 18, 2016 /PRNewswire/ -- Centene Corporation (NYSE: CNC) today announced the State of Missouri has selected its Missouri subsidiary, Home State Health, to provide managed care services to MO HealthNet Managed Care beneficiaries. Home State will serve MO HealthNet Managed Care beneficiaries in all 114 Missouri counties and the City of St. Louis. The contract is expected to commence May 1, 2017.

Home State Health has operated as a MO HealthNet Managed Care health plan since July 2012. Since inception, Home State's membership has increased 100 percent, 102,900 members at June 30, 2016, and its network of providers has grown to over 20,000 primary care physicians and specialists. Whole-person care management programs launched by the health plan have delivered strong quality improvement results.

"With our global headquarters in Clayton, Missouri, Centene is particularly pleased about this opportunity to expand our healthcare services across the State of Missouri, reaching families in each of the state's 114 counties, and the City of St. Louis," said Michael F. Neidorff, Chairman, President and CEO of Centene, and Chairman of the Board for Home State Health. "Over the past four years, Home State Health has partnered with the state to empower members to engage in healthy behaviors that promote wellness, prevention and the early diagnosis and management of disease."

"We look forward to continuing our work with the state and the healthcare providers in our network to improve health outcomes and reduce the cost of healthcare delivery in Missouri," said Kimberly Tuck, Home State Health's President and CEO. "We are honored to expand our services into every Missouri County, and the City of St. Louis, opening the door for many more families to experience our local approach to delivering integrated, quality access to healthcare."

About Centene Corporation
Centene Corporation, a Fortune 500 company, is a diversified, multi-national healthcare enterprise that provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. Many receive benefits provided under Medicaid, including the State Children's Health Insurance Program (CHIP), as well as Aged, Blind or Disabled (ABD), Foster Care and Long Term Care (LTC), in addition to other state-sponsored programs, Medicare (including the Medicare prescription drug benefit commonly known as "Part D"), as well as programs with the U.S. Department of Defense and U.S. Department of Veterans Affairs. Centene operates local health plans and offers a range of health insurance solutions. It also contracts with other healthcare and commercial organizations to provide specialty services including behavioral health management, care management software, correctional healthcare services, dental benefits management, in-home health services, life and health management, managed vision, pharmacy benefits management, specialty pharmacy and telehealth services.

Centene uses its investor relations website to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Centene is routinely posted and is accessible on Centene's investor relations website, http://www.centene.com/investors.

The information provided in this press release may contain certain forward-looking statements with respect to the financial condition, results of operations and business of Centene and certain plans and objectives of Centene with respect thereto, including the expected benefits of the acquisition of Health Net. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words such as "anticipate", "target", "expect", "estimate", "intend", "plan", "goal", "believe", "hope", "aim", "continue", "will", "may", "would", "could" or "should" or other words of similar meaning or the negative thereof. There are several factors which could cause actual plans and results to differ materially from those expressed or implied in forward-looking statements. Such factors include, but are not limited to, the possibility that the expected synergies and value creation from the acquisition will not be realized, or will not be realized within the expected time period, including, but not limited to, as a result of conditions, terms, obligations or restrictions imposed by regulators in connection with their approval of, or consent to, the acquisition; the exertion of management's time and Centene's resources, and other out-of-pocket expenses incurred in connection with complying with the undertakings in connection with certain regulatory approvals; the risk that the businesses will not be integrated successfully; disruption from the acquisition making it more difficult to maintain business and operational relationships; the risk that unexpected costs will be incurred; changes in economic conditions or political conditions; changes in federal or state laws or regulations, including the Patient Protection and Affordable Care Act and the Health Care Education Affordability Reconciliation Act and any regulations enacted thereunder; provider and state contract changes; the outcome of pending legal or regulatory proceedings; reduction in provider payments by governmental payors; the expiration or termination of Centene's Medicare or Medicaid managed care contracts with federal or state governments; tax matters; increased health care costs; and risks and uncertainties discussed in the reports that Centene has filed with the Securities and Exchange Commission (the "SEC"). These forward-looking statements reflect Centene's current views with respect to future events and are based on numerous assumptions and assessments made by Centene in light of its experience and perception of historical trends, current conditions, business strategies, operating environments, future developments and other factors it believes appropriate. By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. The factors described in the context of such forward-looking statements in this announcement could cause Centene's plans with respect to the acquisition, actual results, performance or achievements, industry results and developments to /differ materially from those expressed in or implied by such forward-looking statements. Although it is believed that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct and persons reading this announcement are therefore cautioned not to place undue reliance on these forward-looking statements which speak only as of the date of this announcement. Centene does not assume any obligation to update the information contained in this announcement (whether as a result of new information, future events or otherwise), except as required by applicable law. This list of important factors is not intended to be exhaustive. We discuss certain of these matters more fully, as well as certain risk factors that may affect our business operations, financial condition and results of operations, in our filings with the Securities and Exchange Commission, including our annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.

SOURCE Centene Corporation