ST. LOUIS, May 25, 2017 /PRNewswire/ -- Centene
Corporation (NYSE: CNC) today announced its Washington subsidiary, Coordinated Care, has
been selected by the Washington
State Health Care Authority to provide managed care services
to Apple Health's Fully Integrated Managed Care (FIMC)
beneficiaries in three counties that make up the North Central
Region. The contract is expected to commence January 1, 2018, with an additional county being
added no later than 2020.
"Centene has been providing healthcare services and programs to
the State of Washington since
2012," said Christopher Bowers,
Executive Vice President, Markets, for Centene. "We look forward to
continuing to provide these members quality service, and to
partnering with all stakeholders to lead a seamless transition into
fully integrated managed care, which includes behavioral
health."
"Coordinated Care of Washington
is pleased to continue our partnership with the state of
Washington to ensure its most
vulnerable populations get the quality healthcare they deserve, at
a lower cost to the state," said Jay
Fathi, M.D., President and CEO of Coordinated Care.
Coordinated Care currently serves more than 250,000 members in
the Medicaid program and Health Insurance Marketplace, including
over 23,000 foster care members. Under the new contract, the
company expects to grow and build on its current membership of over
13,400 in the region.
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 Centene, 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.
Forward-Looking Statements
The company and its
representatives may from time to time make written and oral
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act ("PSLRA") of 1995, including
statements in this and other press releases, in presentations,
filings with the Securities and Exchange Commission ("SEC"),
reports to stockholders and in meetings with investors and
analysts. In particular, 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 but not limited to the expected benefits of the
acquisition of Health Net, Inc. These forward-looking statements
can be identified by the fact that they do not relate only to
historical or current facts. Without limiting the foregoing,
forward-looking statements often use words such as "anticipate",
"seek", "target", "expect", "estimate", "intend", "plan", "goal",
"believe", "hope", "aim", "continue", "will", "may", "can",
"would", "could" or "should" or other words of similar meaning or
the negative thereof. We intend such forward-looking statements to
be covered by the safe-harbor provisions for forward-looking
statements contained in PSLRA. A number of factors, variables or
events 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, Centene's ability to
accurately predict and effectively manage health benefits and other
operating expenses and reserves; competition; membership and
revenue declines or unexpected trends; changes in healthcare
practices, new technologies, and advances in medicine; increased
health care costs; changes in economic, political or market
conditions; changes in federal or state laws or regulations,
including changes with respect to government health care programs
as well as changes with respect to the Patient Protection and
Affordable Care Act and the Health Care and Education Affordability
Reconciliation Act and any regulations enacted thereunder that may
result from changing political conditions; rate cuts or other
payment reductions or delays by governmental payors and other risks
and uncertainties affecting Centene's government businesses;
Centene's ability to adequately price products on federally
facilitated and state based Health Insurance Marketplaces; tax
matters; disasters or major epidemics; the outcome of legal and
regulatory proceedings; changes in expected contract start dates;
provider, state, federal and other contract changes and timing of
regulatory approval of contracts; the expiration, suspension or
termination of Centene's contracts with federal or state
governments (including but not limited to Medicaid, Medicare, and
TRICARE); challenges to Centene's contract awards; cyber-attacks or
other privacy or data security incidents; the possibility that the
expected synergies and value creation from acquired businesses,
including, without limitation, the Health Net 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 expenses incurred and business changes required in connection
with complying with the undertakings in connection with certain
regulatory approvals; disruption from the acquisition making it
more difficult to maintain business and operational relationships;
the risk that unexpected costs will be incurred in connection with,
among other things, the acquisition and/or the integration; changes
in expected closing dates, estimated purchase price and accretion
for acquisitions; the risk that acquired businesses will not be
integrated successfully; Centene's ability to maintain or achieve
improvement in the Centers for Medicare and Medicaid Services (CMS)
Star ratings and other quality scores that impact revenue;
availability of debt and equity financing, on terms that are
favorable to Centene; inflation; foreign currency fluctuations; and
risks and uncertainties discussed in the reports that Centene has
filed with 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 and are subject to change 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 press release could cause Centene's plans with
respect to the Health Net 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 currently 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 press release
are therefore cautioned not to place undue reliance on these
forward-looking statements which speak only as of the date of this
press release. Centene does not assume any obligation to update the
information contained in this press release (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 other risk factors that may affect Centene's
business operations, financial condition and results of operations,
in Centene's filings with the SEC, including the annual reports on
Form 10-K, quarterly reports on Form 10-Q and current reports on
Form 8-K.
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SOURCE Centene Corporation