Centene Corp Del Stock Price, News & Analysis

Centene Corporation (CNC) and Magellan Health (MGLN) have received all regulatory approvals necessary for Centene's acquisition of Magellan. The closing is expected on or about January 4, 2022. This acquisition will enable Centene to enhance its whole-health solutions, addressing both physical and mental health needs, aimed at improving health outcomes and reducing costs for high-cost populations. CEO Michael Neidorff expressed optimism about the expanded services and increased access to behavioral health care for communities in need.

Health Net is launching 180 mobile COVID-19 vaccine clinics across California to enhance health equity and increase vaccination accessibility. Collaborating with community partners like the Los Angeles Rams and the United Farm Workers Foundation, these clinics aim to serve vulnerable populations. Since April 2021, Health Net has conducted 140 clinics, administering over 12,000 vaccines. The initiative reflects Health Net's commitment to community health, backed by a $14.5 million investment to aid providers, members, and local communities during the pandemic.

California Health & Wellness has awarded a $25,000 grant to Lighthouse Counseling and Family Resource Center to address Adverse Childhood Experiences (ACEs) exacerbated by the COVID-19 pandemic. The grant aims to enhance counseling services for families facing increased stress, abuse, and educational disruptions. Lighthouse has already reached 8,500 residents and provided services to over 250 individuals. They report a 40% rise in children seeking help for suicidal ideation, with 100% of those in counseling showing improvement.

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Centene Corporation (NYSE: CNC) announced significant changes to its Board of Directors, including the appointment of five new directors as part of a governance review process following a cooperation agreement with Politan Capital Management. Key appointments include Ken Burdick, Christopher Coughlin, Wayne DeVeydt, and Theodore Samuels, effective January 5, 2022. James Dallas will transition to Lead Independent Director. The company will also implement a mandatory retirement age for directors. These changes aim to enhance corporate governance and stakeholder value.

Centene Corporation (NYSE: CNC) announced that CEO Michael Neidorff will retire in 2022 but will continue as Executive Chairman until year-end. The Board initiated a succession plan earlier this year, now positioned to appoint a new CEO through an extensive search. Neidorff highlighted Centene's robust standing and leadership team, affirming confidence in a smooth transition. Under his leadership since 1996, Centene grew from a $40 million company to a $125 billion market leader, impacting 26.5 million members across the U.S. and internationally.

Centene Corporation (NYSE: CNC) hosted a virtual investor day on December 10, 2021, announcing its 2022 financial guidance and outlining a Value Creation Plan aimed at enhancing earnings growth and shareholder value. The company expects total revenues of $135.9 billion to $137.9 billion and diluted EPS of $4.07 to $4.23 for FY 2022. Key elements of the Value Creation Plan include SG&A savings, gross margin improvement, and strategic capital allocation, with an EPS target of $7.50 to $7.75 by 2024. The 2021 total revenue guidance reaffirms a range of $125.2 billion to $126.4 billion.

Centene Corporation (NYSE: CNC) announced that its 2022 Financial Guidance and Investor Day event, scheduled for December 10, 2021, will now be held virtually due to concerns over the COVID-19 Omicron variant. Initially planned as a hybrid event, it will now forgo in-person attendance. The event will be streamed live on Centene's investor relations website, providing updates on the company's financial outlook and strategies.

Centene is a major healthcare provider, emphasizing integrated services for underserved populations.

Health Net has appointed Colin Havert as the new Commercial Officer for Health Net of California. Havert, who previously spent over a decade at Anthem Blue Cross, will oversee the large group, small business group, and individual and family plan segments. This leadership change aims to ensure excellence and disciplined growth as Health Net seeks to enhance health equity and community health outcomes. The company serves approximately 3 million members with a wide array of health plans and services.