ST. LOUIS, Aug. 15, 2017 /PRNewswire/ -- Centene
Corporation (NYSE: CNC) announced today that its Illinois subsidiary, IlliniCare Health, has
been awarded the Medicaid Managed Care Program including children
who are in need through the Department of Children and Family
Services (DCFS)/Youth in Care contract by the Illinois Department
of Healthcare and Family Services (HFS). Contingent upon successful
contract negotiations, the new four-year agreement, with the option
to renew the contract for up to an additional four years, is
expected to commence on January 1,
2018.
"We are pleased that we will be able to continue to provide
healthcare to the populations we serve and look forward to
successfully negotiating the terms of the contract," said
Michael F. Neidorff, Chairman,
President and CEO for Centene.
IlliniCare Health is currently contracted to provide healthcare
services to its Medicaid and dual-eligible Medicare populations
serving over 218,000 members. The award of the new contract will
expand its service footprint from 12 counties to all 102
Illinois counties.
About Centene Corporation
Centene Corporation, a
Fortune 100 company, is a diversified, multi-national healthcare
enterprise that provides a portfolio of services to government
sponsored and commercial 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"), dual eligible programs and programs with the U.S.
Department of Defense and U.S. Department of Veterans Affairs.
Centene also provides healthcare services to groups and individuals
delivered through commercial health plans. 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 and 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 the Centers for Medicare and
Medicaid Services (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