Centene Corporation Subsidiary to Acquire Cardium Health Services; Further Expands Disease Management Capabilities
May 10 2006 - 7:22AM
Business Wire
Centene Corporation (NYSE: CNC) today announced that its specialty
company subsidiary, CenCorp Health Solutions, has acquired Cardium
Health Services Corporation (Cardium Health), a Connecticut-based
chronic disease management company. Cardium Health, an innovator in
chronic disease management, focuses on individuals diagnosed with
coronary artery disease, congestive heart failure and diabetes,
among others; the company offers its services to self-insured
employers and other benefit plan sponsors. William N. Scheffel,
Centene's Senior Vice President and Chief Executive, Specialty
Companies, stated, "This acquisition gives us additional product
breadth and continues to demonstrate our carefully planned strategy
to build a multi-line managed healthcare enterprise. The addition
of Cardium Health expands our specialty company platform into a
full spectrum of disease states and complements our existing
capabilities." The purchase price for the transaction is $12.0
million in cash with the potential of an additional $1.0 million
subject to achieving certain financial targets in 2006 and 2007.
Centene does not expect the acquisition to have a material impact
on 2006 earnings. About Centene Corporation Centene Corporation is
a leading multi-line healthcare enterprise that provides programs
and related services to individuals receiving benefits under
Medicaid, including Supplemental Security Income (SSI) and the
State Children's Health Insurance Program (SCHIP). The Company
operates health plans in Indiana, Kansas, Missouri, New Jersey,
Ohio, Texas and Wisconsin. In addition, the Company contracts with
other healthcare organizations to provide specialty services
including behavioral health, disease management, nurse triage,
pharmacy benefit management and treatment compliance. Information
regarding Centene is available via the Internet at www.centene.com.
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