Centene Corp Del Stock Price, News & Analysis

On February 24, 2022, Centene Corporation (NYSE: CNC) announced that its CEO, Michael Neidorff, is taking a medical leave of absence. James Dallas will act as Chairman of the Board during this period, with day-to-day management handled by a team including Sarah London, Brent Layton, Drew Asher, and Shannon Bagley. Neidorff led Centene for 26 years, growing it to a Fortune 24 company with revenues exceeding $125 billion. The Board aims to appoint a new CEO by Q2 2022.

Health Net has awarded a $150,000 grant to the UCSF California Preterm Birth Initiative and Cherished Futures for Black Moms & Babies. This funding aims to establish a statewide coalition focused on advancing birth justice for Black communities. Health disparities are highlighted, as Black women are significantly more likely to face birth-related complications. Health Net has invested $100 million in community initiatives since 2017 to improve health equity.

Health Net awarded over $4.5 million in grants to community-based nonprofits across California to enhance COVID-19 vaccination rates and vaccine equity. This initiative supports campaigns like AltaMed's “¡Ándale! ¿Qué esperas?” and local outreach programs aimed at educating communities. Over 80 grants were distributed, with notable recipients including AltaMed, which received $1.6 million for outreach to Latino communities. The company has also conducted more than 160 vaccination events, resulting in over 15,000 vaccinations.

Centene Corporation (NYSE: CNC) announced on February 15, 2022, that Trillium Community Health Plan received NCQA Accreditation for its Medicaid product. This recognition indicates a high standard in managing healthcare delivery, improving care quality, and ensuring consumer safeguards. NCQA President, Margaret E. O'Kane, praised Trillium's achievements, which reflect its commitment to quality healthcare. Centene aims to enhance patient outcomes through integrated services, serving nearly 1 in 15 individuals nationwide, including those under Medicaid and Medicare.

Centene Corporation (NYSE: CNC) announced that its subsidiary, Louisiana Healthcare Connections, has been selected to continue providing integrated healthcare services for Louisiana's Medicaid program starting July 1, 2022. The renewed statewide contract enables Louisiana Healthcare Connections to serve over 540,000 Medicaid enrollees and introduces new benefits aimed at improving healthcare access, including community-based maternity services and support for social determinants of health. The contract spans three years, with an option for a two-year extension.

Centene Corporation (NYSE: CNC) reported Q4 2021 diluted EPS of $1.01 and adjusted diluted EPS of $1.01, with total revenues reaching $32.6 billion, marking a 15% increase year-over-year. Full-year revenues totaled $126 billion, a 13% growth, alongside a health benefits ratio of 87.9%. Membership grew 4% to 26.6 million, and cash flow from operations was $675 million. The company acquired Magellan Health in January 2022 for approximately $2.6 billion. Outlook for 2022 includes adjusted diluted EPS guidance of $5.30 to $5.50 and total revenues projected between $135.9 billion and $137.9 billion.

Centene Corporation (NYSE: CNC) announced that its Centene Institute for Advanced Health Education has received joint accreditation from three prominent healthcare institutions: ACCME, ACPE, and ANCC. This accreditation enables the Institute to provide continuing education for multidisciplinary healthcare teams, aiming to enhance patient care and health outcomes. The program is available to employees and external healthcare professionals. Centene's commitment to accessible, high-quality healthcare is affirmed by this accolade, which supports the development of skilled health professionals.

A partnership between San Diego State University’s Center for Excellence in Aging & Longevity and Wellcare By Health Net aims to support seniors in navigating health challenges, particularly post-COVID-19. The initiative unveils the ‘Wellness Club,’ a community-based program focused on enhancing wellbeing, sharing information, and addressing issues related to aging. It emphasizes active participation from seniors and aims to connect students with older adults for mutual benefits.

Health Net has awarded a $3 million grant to Hazel Health to expand school-based telehealth services across 200 California schools in ten counties. This initiative aims to enhance access to mental and physical health care for students, addressing health equity gaps and reducing absenteeism. Since the 2021-22 school year, Hazel's services have enabled an 85% return rate to class for students receiving care, contributing to 2,300 additional hours of learning. The goal is to eliminate barriers to health care access for vulnerable communities.