ST. LOUIS, May 18, 2018 /PRNewswire/ -- Centene
Corporation (NYSE: CNC) announced today that the Pima County Arizona Board of Supervisors voted
unanimously to award Centurion Detention Health Services, LLC
("Centurion") a contract to provide comprehensive healthcare
services to detainees of the County's adult and juvenile detention
facilities located in Tucson,
Arizona.
The contract will be administered by the County's Department of
Behavioral Health and is expected to commence July 1, 2018, with a base term of three
years, plus two optional years to renew.
Under the contract, Centurion will place approximately 108
full-time equivalent employees at the County's detention
facilities to provide a wide array of medical, dental, and
behavioral health services to the County's daily
population of approximately 1,900 detainees.
"This award marks Centurion's expansion into the county jail
market and furthers Centene's commitment in the state of
Arizona," said Steven H.
Wheeler, CEO of Centurion. "We look forward to partnering with the
County to provide detainees with quality healthcare services."
In addition to this award, Centurion provides healthcare
services in 13 other states to correctional and justice-involved
populations.
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