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) will participate in two virtual healthcare conferences in March 2021. The first is the Barclays Global Healthcare Conference on March 9, where it will present at 9:10 a.m. EST, accessible via a live audio webcast. The second is the Oppenheimer 31st Annual Healthcare Conference on March 16, with a presentation scheduled for 8:40 a.m. EDST, also available through a webcast. Replays of both presentations will be accessible on Centene's investor relations website.
Centene Corporation (NYSE: CNC) announced that its subsidiary, 'Ohana Health Plan, will continue to manage the Community Care Services (CCS) program in Hawaii under a new three-year contract beginning July 1, 2021. The CCS program delivers behavioral health services to around 5,000 Medicaid-eligible adults with severe mental illnesses. 'Ohana Health Plan has provided these services since 2013, reflecting its commitment to quality care. This new contract emphasizes the company's integrated healthcare approach and partnership with local organizations to improve member outcomes.
Health Net has partnered with Wesley Health Centers to conduct a study analyzing COVID-19's impact on racial minorities and underserved communities in California. The initiative includes free COVID-19 screenings to confirm current and past infections, with follow-up medical monitoring for participants. The study aims to uncover health disparities faced by communities of color, as highlighted by the CDC. Funded by Centene, the initiative reflects a commitment to improving healthcare access and outcomes for vulnerable populations, with the analysis providing evidence-based solutions to enhance public health responses.
Centene Corporation (NYSE: CNC) announced the completion of its tender offer for $2.2 billion of 4.75% Senior Notes due 2025. The tender offer expired on February 17, 2021, with $796.17 million (36.19%) of notes validly tendered. The Purchase Price for accepted notes is $1,025.85 per $1,000 principal. The company plans to use proceeds from a $2.2 billion public offering of 2.50% senior notes due 2031 to finance this purchase. Remaining 2025 Notes will be redeemed on March 12, 2021. The company’s tender agent is Global Bondholder Services Corporation.
Centene Corporation (NYSE: CNC) announced the pricing of a public offering for $2.2 billion in 2.50% senior notes due 2031, set to close around February 17, 2021. The proceeds will fund the purchase and redemption of its 4.75% senior notes due 2025 and cover associated expenses. The notes, which are senior unsecured obligations, will rank equally with existing senior debt. Notably, the offering is conducted under an effective shelf registration statement with the SEC.
Centene Corporation (NYSE: CNC) announced a cash tender offer for its 4.75% Senior Notes due 2025, seeking to acquire any outstanding notes before the February 17, 2021 expiration. The company aims to use proceeds from a concurrent $2.2 billion senior notes offering due 2031 to facilitate this tender offer. Holders of the 2025 notes can withdraw validly tendered notes before the expiration. The tender offer consideration stands at $1,025.85 per $1,000 principal amount, with additional interest payments possible. Conditions apply to both the tender offer and the redemption of remaining notes.
Centene Corporation (NYSE: CNC) has initiated an underwritten public offering of $2.2 billion in senior notes due 2031. The proceeds will fund the purchase of its 4.75% senior notes due 2025 as part of a cash tender offer, redeem any remaining notes not tendered, and cover related expenses. The offering is managed by BofA Securities and Barclays, among others, under an effective registration statement filed with the SEC. Centene aims to leverage these funds to strengthen its financial position while continuing its commitment to providing healthcare services.
Centene Corporation (NYSE: CNC) reported Q4 2020 results with revenues of $28.3 billion, a 50% increase year-over-year, and a net loss of $(0.02) per share, down from $0.49 in Q4 2019. Full-year revenues reached $111.1 billion, up 49%, with diluted EPS of $3.12, slightly lower than $3.14 in 2019. Managed care membership grew 67% to 25.5 million. The company announced the acquisition of Magellan Health and two statewide contracts in Oklahoma, enhancing its growth strategy amid the ongoing pandemic.
Centene Corporation (NYSE: CNC) announced its Oklahoma subsidiary, Oklahoma Complete Health, has secured statewide contracts with the Oklahoma Health Care Authority to manage the SoonerSelect and SoonerSelect Specialty Children's Plan (SCP) programs. The SoonerSelect initiative will provide healthcare to over 550,000 Medicaid recipients, with an anticipated 200,000 more beneficiaries through Medicaid expansion in July 2021. The program aims to enhance health outcomes while reducing costs, emphasizing local partnerships and value-based care.
Health Net Federal Services, a subsidiary of Centene Corporation (NYSE: CNC), launched the Buckley Prime Service Area Pilot on January 1, 2021, in the Denver area. This initiative aims to transition TRICARE's fee-for-service model to a value-based payment approach, enhancing health outcomes and satisfaction for beneficiaries. Running until December 31, 2022, the pilot offers chronic care management, personalized services, and preventive care reminders. With approximately 2.9 million beneficiaries in the TRICARE West Region, this pilot aligns with the Military Health System's objectives for improved care and budget certainty.