Centene Corporation Files Lawsuit against Amerigroup Corporation
January 08 2009 - 4:53PM
Business Wire
Centene Corporation (NYSE: CNC) today filed a lawsuit in the
Superior Court of New Jersey Chancery Division against AMERIGROUP
Corporation (Amerigroup) and its New Jersey subsidiary. The lawsuit
was filed in response to Amerigroup�s purported termination of its
previously disclosed agreement to purchase certain assets of
Centene�s New Jersey subsidiary (University Health Plans, Inc.).
Centene believes that the purported termination is invalid. While
Centene intends to vigorously pursue all of its legal remedies and
options, it remains committed to ensuring that its Medicaid
membership in New Jersey continues to receive quality care during
whatever period of time is required to resolve the dispute. Centene
intends to follow its corporate policy of not commenting on pending
legal actions. 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 the State Children�s Health Insurance Program (SCHIP), as
well as Aged, Blind, or Disabled (ABD), Foster Care,�Long-Term
Care�and Medicare (Special Needs Plans). The Company operates local
health plans and offers a range of healthcare solutions for the
rising number of uninsured Americans. It contracts with other
healthcare and commercial organizations to provide specialty
services including behavioral health, life and health management,
managed vision, nurse triage, pharmacy benefits management and
treatment compliance. Information regarding Centene is available
via the Internet at www.centene.com. The information provided in
this press release contains forward-looking statements that relate
to future events and future financial performance of Centene.
Subsequent events and developments may cause the Company's
estimates to change. The Company disclaims any obligation to update
this forward-looking financial information in the future. Readers
are cautioned that matters subject to forward-looking statements
involve known and unknown risks and uncertainties, including
economic, regulatory, competitive and other factors that may cause
Centene's or its industry's actual results, levels of activity,
performance or achievements to be materially different from any
future results, levels of activity, performance or achievements
expressed or implied by these forward-looking statements. Actual
results may differ from projections or estimates due to a variety
of important factors, including Centene's ability to accurately
predict and effectively manage health benefits and other operating
expenses, competition, changes in healthcare practices, changes in
federal or state laws or regulations, inflation, provider contract
changes, new technologies, reduction in provider payments by
governmental payors, major epidemics, disasters and numerous other
factors affecting the delivery and cost of healthcare. The
expiration, cancellation or suspension of Centene's Medicaid
Managed Care contracts by state governments would also negatively
affect Centene.
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