ST. LOUIS, May 22, 2018 /PRNewswire/ -- Centene
Corporation (NYSE: CNC) announced today that its Iowa subsidiary, Iowa Total Care, Inc., has
been tentatively awarded a statewide contract for the IA Health
Link Program. Pending regulatory approval, the contract is expected
to commence on July 1, 2019.
"We are pleased to be selected for the IA Health Link Program,"
said Michael F. Neidorff, Chairman
and CEO for Centene. "We look forward to working with the state of
Iowa to deliver on our mission of
providing better health outcomes for Iowa residents at a lower cost to the
state."
The IA Health Link Program provides
integrated Medicaid managed care coverage, including
long-term services and supports (LTSS) and behavioral health, to
over 600,000 Medicaid members in the state.
"Iowa Total Care is pleased to have been selected as an intended
awardee for the IA Health Link Program," said Brent Layton, Executive Vice President and Chief
Business Development Officer for Centene. "We look forward to
partnering with the state and the provider community while ensuring
the people of Iowa have access to
comprehensive, quality healthcare."
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 Services and
Supports (LTSS), 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, commercial programs, home-based primary care services,
life and health management, vision benefits management, 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 (Health Net
Acquisition) of Health Net, Inc. (Health Net) and the
proposed acquisition of New York State Catholic Health Plan,
Inc., d/b/a Fidelis Care New York (Fidelis
Care) (Proposed Fidelis Acquisition or Fidelis Care
Transaction). 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 healthcare costs;
changes in economic, political or market conditions; changes in
federal or state laws or regulations, including changes with
respect to income tax reform or government healthcare 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 or Fidelis Care's contracts with
federal or state governments (including but not limited
to Medicaid, Medicare, TRICARE or other customers); the
difficulty of predicting the timing or outcome of pending or future
litigation or government investigations; challenges
to Centene or Fidelis Care'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 and the Proposed Fidelis Acquisition, will not be
realized, or will not be realized within the expected time period,
including, but not limited to, as a result of any failure to obtain
any regulatory, governmental or third party consents or approvals
in connection with the Proposed Fidelis Acquisition (including any
such approvals under the New York Non-For-Profit Corporation Law)
or any conditions, terms, obligations or restrictions imposed in
connection with the receipt of such consents or approvals; 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
any regulatory, governmental or third party consents or approvals
for the Health Net Acquisition or the Proposed Fidelis Acquisition;
disruption caused by significant completed and pending
acquisitions, including the Health Net Acquisition and the Proposed
Fidelis Acquisition, making it more difficult to maintain business
and operational relationships; the risk that unexpected costs will
be incurred in connection with the completion and/or integration of
acquisition transactions, including among others, the Health Net
Acquisition and the Proposed Fidelis Acquisition; changes in
expected closing dates, estimated purchase price and accretion
for acquisitions; the risk that acquired businesses and pending
acquisitions, including Health Net and Fidelis Care, will not
be integrated successfully; the risk that the conditions to the
completion of the Proposed Fidelis Acquisition may not be satisfied
or completed on a timely basis, or at all; failure to obtain or
receive any required regulatory approvals, consents or clearances
for the Proposed Fidelis Acquisition, and the risk that, even if so
obtained or received, regulatory authorities impose conditions on
the completion of the transaction that could require the exertion
of management's time and Centene's resources, or
otherwise have an adverse effect on Centene or the
completion of the Proposed Fidelis Acquisition; business
uncertainties and contractual restrictions while the Proposed
Fidelis Acquisition is pending, which could adversely
affect Centene's business and operations; change of
control provisions or other provisions in certain agreements to
which Fidelis Care is a party, which may be triggered by
the completion of the Proposed Fidelis Acquisition; loss of
management personnel and other key employees due to uncertainties
associated with the Proposed Fidelis Acquisition; the risk that,
following completion of the Proposed Fidelis Acquisition, the
combined company may not be able to effectively manage its expanded
operations; restrictions and limitations that may stem from the
financing arrangements that the combined company will enter into in
connection with the Proposed Fidelis
Acquisition; Centene's ability to achieve improvement in
the Centers for Medicare and Medicaid Services (CMS) Star
ratings and maintain or achieve improvement in other quality scores
in each case that can impact revenue and future growth;
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