Centene Corporation Completes Transaction With Community Health Solutions

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Jul 01, 2014, 08:00 ET

ST. LOUIS, July 1, 2014 /PRNewswire/ -- Centene Corporation (NYSE: CNC) ("Centene") announced today that it has completed the transaction whereby Community Health Solutions of America, Inc. ("CHS") assigned its contract with the Louisiana Department of Health and Hospitals ("DHH") under the Bayou Health Shared Savings Program to Centene's wholly owned subsidiary, Louisiana Healthcare Connections, Inc. ("LHCC"). The closing resulted in the issuance of 746,369 shares of Company common stock, $0.001 par value per share on July 1, 2014.

About Centene Corporation

Centene Corporation, a Fortune 500 company, is a leading multi-line healthcare enterprise that provides programs and 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/hybrid programs, and Medicare (Special Needs Plans). The company 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, care management software, correctional systems healthcare, in-home health services, life and health management, managed vision, pharmacy benefits management, specialty pharmacy and telehealth services.

This information provided in this press release contains forward-looking statements about a transaction between Centene and CHS including the potential financial impact of the transaction. Such information involves substantial risks and uncertainties including, among other things, economic, regulatory, competitive and other factors that may cause the actual benefits to be materially different from those expressed in this press release. Forward-looking statements speak only as of the date of this release and are based on information available at the time those statements are made, as well as management's views and assumptions regarding future events. You should not put undue reliance on any forward-looking statements. Centene does not undertake to update its forward-looking statements, except as required by law.

SOURCE Centene Corporation