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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.
Centene Corporation (NYSE: CNC) has priced its public offering of $1.8 billion in 2.450% senior notes due 2028, expected to close around July 1, 2021. Proceeds will partially fund the acquisition of Magellan Health and cover related expenses. If the acquisition does not close, proceeds will be used for debt repayment and general corporate purposes. The notes are senior unsecured obligations and will not be guaranteed by subsidiaries. J.P. Morgan, Barclays, BofA Securities, Truist Securities, and Wells Fargo Securities are joint book-running managers for this offering.
Centene Corporation (NYSE: CNC) has announced a public offering of $1.8 billion in senior notes due 2028. The proceeds will primarily finance Centene's acquisition of Magellan Health Inc. and cover related fees. Importantly, the offering's closing is not contingent on the acquisition's completion. If the acquisition does not proceed, funds will be allocated for debt repayment and general corporate purposes. J.P. Morgan, Barclays, BofA Securities, Truist Securities, and Wells Fargo Securities are managing the offering. Potential investors should review the prospectus for more details.
Centene Corporation (NYSE: CNC) has inaugurated its new East Coast headquarters in Charlotte, a project that began construction in August 2020. The first phase will feature 800,000 square feet of office space, completed in 2022, with a second phase starting in 2024, ultimately accommodating 6,000 employees. The campus will support local health plans and promote innovation. Centene plans to invest $1 billion in the Charlotte community, hiring 700 employees in the past year, and focuses on evolving into a technology-driven enterprise in healthcare.
Centene Corporation (NYSE: CNC) announced the winners of its Youth Impact Award for Vaping Prevention on June 14, 2021. Aimed at adolescents aged 14-19, the contest received over 150 entries from 30 states, encouraging youth to create Public Service Announcements on vaping dangers. Winners hailed from Ohio, Georgia, and New Jersey. This initiative aligns with Centene's commitment to enhancing health literacy amid rising youth vaping rates and the impact of COVID-19. The program underscores the importance of proactive health education in today's climate.
Centene Corporation (NYSE: CNC) has reached no-fault agreements with the Attorneys General of Ohio and Mississippi, resolving claims related to its pharmacy benefits manager subsidiary, Envolve Pharmacy Solutions. Centene will pay $88 million to Ohio and $55 million to Mississippi, while denying any liability. Following a proactive restructuring in 2019, Envolve will now function as an administrative service provider. Additionally, Centene has set aside a $1.1 billion reserve for potential future claims and settlements, reflecting the company’s commitment to transparency and healthcare quality.
Centene Corporation (NYSE: CNC) announced a new initiative to boost COVID-19 vaccinations among its health plan members and the general public. Starting this week, a nationwide call campaign will assist unvaccinated individuals in scheduling appointments. Additionally, the top 100 healthcare providers achieving increased vaccination rates will receive $5,000 grants. The company will also launch public service announcements emphasizing vaccination's importance for family health. These efforts build upon prior outreach and education initiatives to combat vaccine hesitancy.
Centene Corporation (NYSE: CNC) will host a virtual Investor Meeting on June 16, 2021. The meeting will feature Michael F. Neidorff, CEO, and Drew L. Asher, CFO, and will be streamed live on the company's website. Centene is a Fortune 50 company focused on providing integrated healthcare services to under-insured and uninsured individuals, serving nearly 1 in 15 people in the U.S. The company also has a presence in international markets and emphasizes long-term growth and community support.
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Centene Corporation (NYSE: CNC) will present at Bernstein's 37th Annual Strategic Decisions Conference from June 2-4, 2021. The company's session is scheduled for June 3 at 8:00 a.m. EDT, available as a live audio webcast. A replay will be accessible on Centene's investor relations website. As a leading healthcare enterprise, Centene focuses on providing integrated services to under-insured and uninsured individuals across various programs, including Medicaid and Medicare. They prioritize long-term growth and community service.
Centene Corporation (NYSE: CNC) has appointed Suzy DePrizio as Senior Vice President and Chief Marketing Officer, effective immediately. DePrizio, with over 16 years of marketing leadership experience from her tenure at Johnson & Johnson, will spearhead Centene's marketing strategy and brand position. Her previous roles include leading digital transformation at Johnson & Johnson's U.S. Consumer Health business. DePrizio holds a BA from Harvard University and an MBA from Duke University. This appointment is seen as pivotal for enhancing Centene's growth trajectory.