ST. LOUIS, Jan. 5, 2017 /PRNewswire/ -- Centene Corporation
(NYSE: CNC) announced today that its Pennsylvania subsidiary, Pennsylvania Health
& Wellness, has been selected by the Pennsylvania Department of
Human Services to serve Medicaid recipients enrolled in the
HealthChoices program in three zones. Pending regulatory approval
and successful completion of readiness review, the three-year
agreement is expected to commence June 1,
2017. In April, Centene was originally selected to provide
services in three zones for HealthChoices. Today's award is in
response to a re-issue of the HealthChoices award.
The Department completed an evaluation and scoring of the
proposal and has selected Centene's proposal for the Southeast
Zone, the Southwest Zone, and the Lehigh Capital Zone of
Pennsylvania. The HealthChoices
program covers low-income children and families, individuals with
disabilities, as well as those newly eligible under the Affordable
Care Act expansion throughout the state of Pennsylvania.
In addition to the Health Choices Medicaid award, Centene was
previously selected under a separate contract by the departments of
Human Services and Aging to serve enrollees in the Community
HealthChoices program statewide, pending regulatory approval and
successful completion of readiness review. Under this agreement,
Pennsylvania Health & Wellness will coordinate physical health
and long-term services and supports (LTSS), if needed, to enhance
the quality of medical care and access to all appropriate services
to more than 420,000 individuals who are dually eligible for
Medicare and Medicaid, older Pennsylvanians and individuals with
disabilities.
"We are pleased to be selected today for the HealthChoices
program," said Michael F. Neidorff,
Chairman, President and CEO for Centene. "This tremendous
opportunity, along with the Community HealthChoices award in August
of this year will allow Centene to make a major investment of more
than a thousand local Pennsylvania
jobs and deliver innovative programs to work towards improving the
lives of the members we will be fortunate to serve."
"The Commonwealth's commitment to moving provider payments away
from traditional fee-for-service arrangements to value-based
purchasing will have a tremendously positive impact on the health
and wellness of Pennsylvanians," said Brent
Layton, Executive Vice President and Chief Business
Development Officer for Centene. "Pennsylvania Health &
Wellness is honored to be chosen to be a part of this important
transformation while focusing on a community involvement
approach."
About Centene Corporation
Centene Corporation, a
Fortune 500 company, is a diversified, multi-national healthcare
enterprise that provides a portfolio of services to government
sponsored healthcare programs, focusing on under-insured and
uninsured individuals. Many receive benefits provided under
Medicaid, including the State Children's Health Insurance Program
(CHIP), as well as Aged, Blind or Disabled (ABD), Foster Care and Long Term Care (LTC), in
addition to other state-sponsored programs, Medicare (including the
Medicare prescription drug benefit commonly known as "Part D"), as
well as programs with the U.S. Department of Defense and U.S.
Department of Veterans Affairs. Centene operates local health plans
and offers a range of health insurance solutions. It also contracts
with other healthcare and commercial organizations to provide
specialty services including behavioral health management, care
management software, correctional healthcare services, dental
benefits management, in-home health services, life and health
management, managed vision, pharmacy benefits management, specialty
pharmacy and telehealth services.
Centene uses its investor relations website to publish important
information about the Company, including information that may be
deemed material to investors. Financial and other information about
Centene is routinely posted and is accessible on Centene's investor
relations website, http://www.centene.com/investors.
Forward-Looking Statements
The company and its representatives may from time to time
make written and oral forward-looking statements within the meaning
of the Private Securities Litigation Reform Act ("PSLRA") of 1995,
including statements in this and other press releases, in
presentations, filings with the Securities and Exchange Commission
("SEC"), reports to stockholders and in meetings with investors and
analysts. In particular, the information provided in this press
release may contain certain forward-looking statements with respect
to the financial condition, results of operations and business of
Centene and certain plans and objectives of Centene with respect
thereto, including but not limited to the expected benefits of the
acquisition of Health Net, Inc. These forward-looking statements
can be identified by the fact that they do not relate only to
historical or current facts. Without limiting the foregoing,
forward-looking statements often use words such as "anticipate",
"seek", "target", "expect", "estimate", "intend", "plan", "goal",
"believe", "hope", "aim", "continue", "will", "may", "can",
"would", "could" or "should" or other words of similar meaning or
the negative thereof. We intend such forward-looking statements to
be covered by the safe-harbor provisions for forward-looking
statements contained in PSLRA. A number of factors, variables
or events could cause actual plans and results to differ materially
from those expressed or implied in forward-looking statements. Such
factors include, but are not limited to, Centene's ability to
accurately predict and effectively manage health benefits and other
operating expenses and reserves; competition; membership and
revenue declines or unexpected trends; changes in healthcare
practices, new technologies and advances in medicine; increased
health care costs; changes in economic, political or market
conditions; changes in federal or state laws or regulations,
including changes with respect to government health care programs
as well as changes with respect to the Patient Protection and
Affordable Care Act and the Health Care and Education Affordability
Reconciliation Act and any regulations enacted thereunder that may
result from changing political conditions; rate cuts or other
payment reductions or delays by governmental payors and other risks
and uncertainties affecting Centene's government businesses;
Centene's ability to adequately price products on federally
facilitated and state based Health Insurance Marketplaces; tax
matters; disasters or major epidemics; the outcome of legal or
regulatory proceedings; changes in expected contract start dates;
provider, state, federal and other contract changes and timing of
regulatory approval of contracts; the expiration, suspension or
termination of Centene's contracts with federal or state
governments (including but not limited to Medicaid, Medicare, and
TRICARE); challenges to Centene's contract awards; cyber-attacks or
other privacy or data security incidents; the possibility that the
expected synergies and value creation from acquired businesses,
including, without limitation, the Health Net acquisition, will not
be realized, or will not be realized within the expected time
period, including, but not limited to, as a result of conditions,
terms, obligations or restrictions imposed by regulators in
connection with their approval of, or consent to, the acquisition;
the exertion of management's time and Centene's resources, and
other expenses incurred and business changes required in connection
with complying with the undertakings in connection with certain
regulatory approvals; disruption from the acquisition making it
more difficult to maintain business and operational relationships;
the risk that unexpected costs will be incurred in connection with,
among other things, the acquisition and/or the integration; changes
in expected closing dates, estimated purchase price and accretion
for acquisitions; the risk that acquired businesses will not be
integrated successfully; Centene's ability to maintain or achieve
improvement in CMS Star ratings and other quality scores that
impact revenue; availability of debt and equity financing, on terms
that are favorable to Centene; inflation; foreign currency
fluctuations; and risks and uncertainties discussed in the reports
that Centene has filed with the SEC. These forward-looking
statements reflect Centene's current views with respect to future
events and are based on numerous assumptions and assessments made
by Centene in light of its experience and perception of historical
trends, current conditions, business strategies, operating
environments, future developments and other factors it believes
appropriate. By their nature, forward-looking statements involve
known and unknown risks and uncertainties and are subject to change
because they relate to events and depend on circumstances that will
occur in the future. The factors described in the context of
such forward-looking statements in this press release could cause
Centene's plans with respect to the Health Net acquisition, actual
results, performance or achievements, industry results and
developments to differ materially from those expressed in or
implied by such forward-looking statements. Although it is
currently believed that the expectations reflected in such
forward-looking statements are reasonable, no assurance can be
given that such expectations will prove to have been correct and
persons reading this press release are therefore cautioned not to
place undue reliance on these forward-looking statements which
speak only as of the date of this press release. Centene does not
assume any obligation to update the information contained in this
press release (whether as a result of new information, future
events or otherwise), except as required by applicable law.
This list of important factors is not intended to be exhaustive. We
discuss certain of these matters more fully, as well as certain
other risk factors that may affect Centene's business operations,
financial condition and results of operations, in Centene's filings
with the SEC, including the annual reports on Form 10-K, quarterly
reports on Form 10-Q and current reports on Form 8-K.
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SOURCE Centene Corporation