ST. LOUIS and DEERFIELD, Ill., Oct.
17, 2019 /PRNewswire/ -- Centene Corporation (NYSE: CNC),
Walgreens and RxAdvance today announced a strategic partnership to
introduce an innovative model for pharmacy management that aims to
increase transparency, enhance customer experience and ultimately
result in better health outcomes at lower costs. The partnership
builds upon an existing Centene and Walgreens relationship,
leveraging Walgreens trusted retail pharmacy expertise and
Centene's national leadership in providing comprehensive health
care services to the underserved, while also utilizing RxAdvance's
innovative pharmacy benefit management model powered by its
Collaborative PBM Cloud platform.
There is a growing need for new approaches to pharmacy benefit
management, particularly to serve the Medicaid population. This
partnership addresses the need for leading companies to collaborate
on a better model, and one which provides higher quality care and
lower pricing for drugs.
"Centene is committed to supporting a transparent pharmacy
benefit management model that is sustainable with higher quality
care for members at a lower cost to our customers," said
Michael F. Neidorff, chairman,
president and CEO, Centene. "This new approach to pharmacy
management will improve the transparency and quality of care, while
reducing unnecessary medical costs for millions of people."
Using RxAdvance's Collaborative PBM Cloud™ transactional
platform and clinical intelligence, the companies will work
together to improve overall patient care across the continuum of
health care and to offer such a model to other large payers.
"Collaboration between retail pharmacies and payers like Centene
can further transform the way we provide care," said Stefano Pessina, executive vice chairman and
CEO, Walgreens Boots Alliance, Inc. "Using RxAdvance's
Collaborative PBM Cloud, our partnership can empower our
pharmacists to make critical decisions at the point of sale to help
improve adherence and also to reduce avoidable medical costs."
The parties have identified initial markets to deploy the
partnership model and are working with community leaders on new
Further exemplifying this commitment, Walgreens has made a small
investment in RxAdvance, and Centene has increased its stake in
RxAdvance, following its initial investment announced in
"I am excited that today we have partners across the care
continuum – Centene and Walgreens – who are committed to the power
of RxAdvance's collaborative PBM model, and to completely reimagine
what is possible in this industry," said Ravi Ika, founder and CEO, RxAdvance. "By
pushing the limits of innovative technology and existing
transaction standards, there is a clear path forward to reduce
administrative costs, avoidable medical costs, and to improve
overall quality of care."
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.
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.
Walgreens (walgreens.com), one of the nation's largest drugstore
chains, is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc.
(NASDAQ: WBA), the first global pharmacy-led, health and wellbeing
enterprise. Approximately 8 million customers interact with
Walgreens in stores and online each day, using the most convenient,
multichannel access to consumer goods and services and trusted,
cost-effective pharmacy, health and wellness services and advice.
As of Aug. 31, 2018, Walgreens
operates 9,560 drugstores with a presence in all 50 states, the
District of Columbia, Puerto Rico and the U.S. Virgin Islands, along with its
omni-channel business, Walgreens.com. Approximately 400 Walgreens
stores offer Healthcare Clinic or other provider retail clinic
RxAdvance is an innovative national full-service pharmacy
benefit manager (PBM) that leverages their Collaborative PBM Cloud™
platform to deliver integrated services that reduce overall
pharmacy costs and avoidable drug-impacted medical costs while
optimizing specialty spend. In addition, standing
shoulder-to-shoulder with plan sponsors, RxAdvance offers a global
pharmacy risk partnership model. Our tailored, world-class services
are for all plan sponsors — health plans, accountable care
organizations (ACOs), exchanges, state Medicaid programs, and
employer groups. We provide contractually guaranteed savings in
administrative costs, ingredient unit costs, and rebate revenues.
For more information, visit www.rxadvance.com.
All statements in this release that are not historical are
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Without limiting the foregoing, forward-looking statements often
use words such as "believe," "anticipate," "plan," "expect,"
"estimate," "intend," "seek," "target," "goal," "may," "will,"
"would," "could," "should," "can," "continue" and other similar
words or expressions (and the negative thereof). In particular,
these statements include, without limitation, statements about our
future operating or financial performance, market opportunity,
growth strategy, competition and investments. These forward-looking
statements reflect current views with respect to future events and
are based on numerous assumptions and assessments made in light of
current experience and perception of historical trends, current
conditions, business strategies, operating environments, future
developments and other factors believed to be appropriate. These
forward-looking statements are not guarantees of future performance
and involve risks, assumptions and uncertainties, including those
described in: "Risk Factors" appearing in the registration
statement on Form S-4 filed by Centene Corporation with the
Securities Exchange Commission on May 23,
2019; Item 1A (Risk Factors) of the Walgreens Boots
Alliance, Inc. Form 10-K for the fiscal year ended August 31, 2018; and in other documents that
Centene Corporation, Walgreens Boots Alliance and RxAdvance may
file or furnish with the Securities and Exchange Commission. Should
one or more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results from this
collaborative effort may vary materially. These forward-looking
statements speak only as of the date they are made and are based
only on information available on the date hereof. Except to the
extent required by law, Centene Corporation, Walgreens Boots
Alliance, Walgreens and RxAdvance do not undertake, and expressly
disclaim, any duty or obligation to update publicly any
forward-looking statement after the date of this release, whether
as a result of new information, future events, changes in
assumptions or otherwise. You should not place undue reliance on
any forward-looking statements, as actual results may differ
SOURCE Centene Corporation