Welcome to our dedicated page for Centene news (Ticker: CNC), a resource for investors and traders seeking the latest updates and insights on Centene stock.
Centene Corporation reports news on its government-sponsored managed care business, including Medicaid, Medicare, individual exchange coverage and Medicare Part D plans. Company updates commonly cover quarterly results, EPS guidance, membership by line of business and health-plan subsidiary activity across state markets.
Centene news also includes initiatives from the Centene Foundation and operating companies such as Health Net, Superior HealthPlan, Home State Health, Sunshine Health, Buckeye Health Plan, Carolina Complete Health and WellCare of Kentucky. Recurring themes include affordable housing, medically tailored meals, provider accessibility, workforce development, community health, social services and programs that address drivers of health for managed care members.
Health Net is responding to the state of emergency declared by Gov. Gavin Newsom in Siskiyou County due to ongoing wildfires. The company is providing special assistance to members, ensuring access to prescription medications and healthcare services to help them cope with stress and trauma. Members can obtain emergency supplies directly from their pharmacies or call Health Net for assistance. The company also offers 24/7 mental health support through MHN and telehealth services at no cost. This initiative underlines Health Net’s commitment to member welfare during crises.
In response to Governor Newsom's state of emergency in Mariposa County, Health Net is assisting its members affected by wildfires. The company is ensuring access to essential prescription medications and healthcare services to help members cope with stress or trauma. Members can obtain emergency supplies from their pharmacies, access telehealth services at no cost, and receive mental health support through MHN. Health Net is committed to providing necessary healthcare services during this crisis.
Centene Corporation (CNC) reported a diluted loss per share of $(0.29) for Q2 2022, influenced by a $1.45 billion real estate impairment charge. Adjusted diluted EPS rose to $1.77, up from $1.25 in Q2 2021. Total revenues increased 16% year-over-year to $35.9 billion, driven by organic Medicaid and Medicare growth. The Health Benefits Ratio improved to 86.7%. Centene raised its full-year adjusted EPS guidance to $5.60-$5.75, marking a cumulative increase of $0.20 since April. Strategic divestitures and real estate optimization are central to its Value Creation Plan.
Centene Corporation (NYSE: CNC) has signed a definitive agreement to sell its Spanish and Central European businesses to Vivalto Santé, as part of its strategic portfolio review. This transaction includes Ribera Salud, a healthcare provider in Spain, and Pro Diagnostics Group, which operates clinics in Slovakia and the Czech Republic. Centene plans to use most of the net proceeds for stock repurchases and the remainder to reduce debt. The transaction is expected to be neutral to adjusted diluted earnings per share over the 12 months following its closing, anticipated by year-end 2022.
Health Net has awarded a $120,000 grant to the Vouchers 4 Veggies program to help combat food insecurity in San Joaquin, Sutter, and Yuba counties. This initiative aims to provide low-income families with access to fresh produce. Since November 2021, over 250 households have benefited from food vouchers. This grant is part of Health Net's broader effort to enhance community health and tackle food insecurity affecting millions in California.
Centene Corporation (NYSE: CNC) has completed the divestiture of its pharmacy business, PANTHERx, to Vistria Group, General Atlantic, and Nautic Partners as part of its ongoing value creation strategy.
Proceeds from the sale will primarily be used for stock repurchases and debt reduction. The divestiture allows Centene to concentrate on its core business, enhancing its focus on delivering integrated, high-quality healthcare services.
Centene Corporation announced the intent to award a contract to its subsidiary, Delaware First Health, to manage Medicaid services in Delaware, marking its 30th state in the Medicaid managed care sector. The contract, effective January 1, 2023, includes providing integrated services for physical and behavioral health. With nearly 40 years of Medicaid experience, Centene aims to enhance health outcomes for Delaware residents while focusing on value-based care.
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Centene Corporation (NYSE: CNC) announced the release of its 2022 second quarter financial results on July 26, 2022, at 6 a.m. Eastern Time. A conference call will follow at 8:30 a.m. Eastern Time to discuss the results. Interested parties can participate by calling 1-877-883-0383 in the U.S. or via international dialing. The call will also be available as a live audio webcast on Centene's website, with a replay accessible for 12 months. Centene, a Fortune 500 company, focuses on delivering integrated healthcare services, particularly to under-insured individuals.
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