St. Vincent Behavioral Health Campus Expands Housing & Health Care for LA with $6M Health Net Investment

Centene (NYSE: CNC) / Health Net is investing $6 million with the Centene Foundation to develop the St.

Rhea-AI Summary

Centene (NYSE: CNC) / Health Net is investing $6 million with the Centene Foundation to develop the St. Vincent Behavioral Health Campus in Los Angeles.

The 7.7-acre site will provide crisis care, transitional services, 172 permanent supportive housing units and 205 behavioral health bridge beds, with phased services rolling out through 2027. Health Net previously invested $2.07 million in community behavioral health initiatives (2021–Jan 2026).

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News Market Reaction – CNC

On Apr 2, the day this news came out, CNC closed 3.42% above the previous close.

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Key Figures

Campus investment: $6 million Campus size: 7.7 acres Supportive housing units: 172 units +3 more

Campus investment

$6 million

Health Net and Centene Foundation support for St. Vincent Behavioral Health Campus

Campus size

7.7 acres

Former St. Vincent Medical Center site area

Supportive housing units

172 units

Permanent supportive housing planned at St. Vincent campus

Bridge housing beds

205 beds

Behavioral health bridge housing capacity at campus

Prior behavioral investment

$2.07 million

Health Net behavioral health initiatives between 2021 and January 2026

Program timeframe

Through 2027

Phased campus development and service rollout period

Historical Context

5 past events · Latest: Mar 31

5 events

1. Mar 31

   Childcare grants

   24h Move

   +3.0%

   Sunshine Health awarded $100,000 in childcare and transportation grants across 40+ counties.

2. Mar 27

   Grant program launch

   24h Move

   -0.6%

   Delaware First Health and Centene Foundation opened submissions for $500,000 in community grants.

3. Mar 27

   Correction notice

   24h Move

   -0.6%

   Corrected details on Delaware First Health’s $500,000 community grant program and timelines.

4. Mar 27

   Housing investment

   24h Move

   -4.7%

   Centene Foundation and Carolina Complete Health announced a $2 million affordable housing investment.

5. Mar 18

   Health program funding

   24h Move

   +3.5%

   WellCare of Kentucky and Centene Foundation committed $550,000 to a diabetes-focused food program.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

medi-cal, managed care, behavioral health, permanent supportive housing, +1 more

5 terms

medi-cal medical

"Health Net, one of California's most experienced Medi-Cal managed care health plans"

Medi‑Cal is California’s government-run health insurance program that pays for medical care for low-income individuals and families. It matters to investors because it acts like a very large customer with set payment rules and wide reach: changes in Medi‑Cal enrollment, reimbursement rates, or coverage rules can directly affect revenues and cash flow for hospitals, clinics, drugmakers and insurers that rely on its payments, much like a major client changing contract terms.

managed care technical

"one of California's most experienced Medi-Cal managed care health plans"

A system in which health insurers, networks, or administrators coordinate who provides care, which services are covered, and how much is paid, often using rules, provider networks, and price negotiations to control costs and quality. Think of it like a subscription service that directs where you go and what is paid for; investors care because it shapes how much hospitals, doctors, drugmakers and device makers can charge, how quickly they get paid, and how many patients they can reach.

behavioral health medical

"The campus will offer behavioral health services and housing"

Behavioral health covers services, treatments and products that address mental health, substance use and other behavior-related conditions—everything from therapy and counseling to addiction treatment, psychiatric care and digital mental-health apps. Investors care because demand, reimbursement rules, regulation and the effectiveness of treatments directly affect revenue and costs for providers and companies, much like how advances or policy changes in any essential service can change who buys it and how profitable it is.

permanent supportive housing technical

"including 172 units of permanent supportive housing and 205 behavioral health bridge housing beds"

Permanent supportive housing is long-term rental housing paired with on-site or nearby services such as health care, mental health support, and case management for people with chronic needs. Think of it like an apartment complex that also provides ongoing social and medical help so residents can stay housed. Investors pay attention because it often involves stable, subsidized income streams, lower turnover and vacancy risks, and ties to government funding and policy that affect project viability.

bridge housing technical

"and 205 behavioral health bridge housing beds, paired with ongoing healthcare"

Bridge housing is short-term, temporary housing provided to people who need a safe place to stay while they move from emergency shelter or homelessness into permanent housing. Investors care because it often involves public funding, nonprofit contracts, or real-estate projects that affect municipal budgets, demand for certain property types and local neighborhood dynamics—think of it as a temporary scaffold that can change future housing needs and local cash flows.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Investment will support crisis care, transitional services and housing at the former St. Vincent Medical Center campus

LOS ANGELES, April 2, 2026 /PRNewswire/ -- Health Net, one of California's most experienced Medi-Cal managed care health plans and company of Centene Corporation (NYSE: CNC), is partnering with the Centene Foundation to invest $6 million to support the development of the St. Vincent Behavioral Health Campus. The campus will offer behavioral health services and housing to people experiencing mental health and substance abuse challenges.

"Getting the right care at the right time changes lives," said Dorothy Seleski, Medi-Cal President at Health Net. "St. Vincent's supports crisis services, ongoing treatment and housing simultaneously. That continuity of care means better health for our most vulnerable residents and eases pressure on the healthcare system. Health Net remains committed to walking alongside people every step of the way."

Located in MacArthur Park, the St. Vincent Behavioral Health Campus will co-locate behavioral health services and housing in a single, coordinated setting to connect people to care in moments of crisis and support long-term stability and recovery. The campus is being developed on the former St. Vincent Medical Center site. After remaining largely shuttered in recent years, the 7.7-acre campus is being transformed into a comprehensive behavioral health and homeless services hub, reactivating a long-standing healthcare institution to meet today's urgent behavioral health and homelessness needs. It will:

• Provide immediate crisis care for people with acute behavioral health needs.
• Deliver transitional services focused on stabilization, treatment and care coordination.
• Offer long-term support, including 172 units of permanent supportive housing and 205 behavioral health bridge housing beds, paired with ongoing healthcare, case management and employment assistance.

"At St. Vincent, our focus is on meeting people where they are and removing barriers to care when it matters most," said Shay Yadin, Principal at St. Vincent Behavioral Health Campus. "By creating a place where care, support, and housing come together, this campus helps neighbors feel safe, supported, and connected as they take steps toward healing, stability, and a stronger sense of belonging in the community."

Health Net and the Centene Foundation will collaborate with community partners to share progress updates, celebrate milestones, and communicate through digital channels and events as the project moves forward. Phased development of the campus is planned, with services rolling out through 2027.

"This investment at the St. Vincent campus represents the kind of cross‑sector solution Los Angeles needs right now," said State Senator Maria Elena Durazo. "By bringing crisis behavioral health services and permanent supportive housing together in one location, this project will help people experiencing homelessness access care faster, stabilize sooner, and move toward long‑term recovery. We're grateful for Health Net and the Centene Foundation's partnership in strengthening our behavioral health and housing continuum."

This project builds on Health Net's longstanding commitment to expanding access to behavioral health care and addressing homelessness across California. Between 2021 and January 2026, Health Net has dedicated $2.07 million to community‑based behavioral health initiatives. These investments reflect Health Net's ongoing focus on partnering with local organizations to close gaps in care and improve health outcomes in communities with the greatest need.

About Health Net
Founded in California more than 45 years ago, Health Net, LLC ("Health Net"), a company of Centene Corporation, believes that every person deserves a safety net for their health, regardless of age, income, employment status or current state of health. Today, we provide health plans for individuals, families, businesses of every size and people who qualify for Medi-Cal or Medicare. With more than 117,000 of our network providers, Health Net serves more than three million members across the state. We also offer access to substance abuse programs, behavioral health services and managed healthcare products related to prescription drugs. We make these health plans and services available through Health Net and its subsidiaries: Health Net of California, Inc., Health Net Life Insurance Company and Health Net Community Solutions, Inc. These entities are wholly owned subsidiaries of Centene Corporation (NYSE: CNC), a leading healthcare enterprise committed to transforming the health of the communities we serve, one person at a time. Health Net and Centene Corporation employ more than 5,700 people in California who work at one of five regional Talent Hub offices. For more information, visit www.HealthNet.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/st-vincent-behavioral-health-campus-expands-housing--health-care-for-la-with-6m-health-net-investment-302732569.html

SOURCE Health Net, LLC

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the $6 million investment from Health Net and Centene Foundation for (CNC)?

The investment funds development of the St. Vincent Behavioral Health Campus, supporting crisis care and housing. According to the company, the funding will support crisis services, transitional care, 172 units of permanent supportive housing and 205 behavioral health bridge housing beds on the 7.7-acre site.

How many housing units and beds will the St. Vincent campus include under the CNC-backed plan?

The project will include 172 permanent supportive housing units and 205 behavioral health bridge housing beds. According to the company, these units will be paired with ongoing healthcare, case management and employment assistance for long-term stability and recovery.

What is the expected timeline for phased development at the St. Vincent Behavioral Health Campus (CNC)?

Phased development is planned with services rolling out through 2027. According to the company, partners will open crisis care, transitional services and housing in stages as construction and program launch progress across the former medical center site.

How does the St. Vincent project aim to help people experiencing homelessness in Los Angeles (CNC)?

The campus combines crisis behavioral health services with supportive housing to accelerate access to care and stabilization. According to the company, co‑located services connect people in crisis to treatment, case management and employment help to support long‑term recovery.

Where will updates and milestones about the St. Vincent campus be shared by Health Net (CNC)?

Health Net and the Centene Foundation will share progress updates with community partners and the public through digital channels and events. According to the company, stakeholders will receive regular communications as project phases advance toward 2027 rollouts.

What prior behavioral health investments has Health Net made before this $6M contribution (CNC)?

Between 2021 and January 2026, Health Net dedicated $2.07 million to community-based behavioral health initiatives. According to the company, this new $6 million investment builds on that multi-year commitment to expand access and address homelessness in California.