ST. LOUIS, Sept. 17, 2019 /PRNewswire/ -- Centene
Corporation (NYSE: CNC) and Feeding America® announced today
the launch of the 'Food for Today and Food for Tomorrow' resource
development initiative, a program that will equip network food
banks and Centene health plans with best practice guidelines for
meeting the needs of individuals experiencing food insecurity.
The initiative leverages the screen and intervene model that
screens individuals for food insecurity and connects them with
access to healthy food to improve nutrition and health outcomes. In
the first phase, Centene and Feeding America will create guidelines
for medically tailored food boxes and for SNAP (Supplemental
Nutrition Assistance Program) application assistance in health care
settings. The cross-sector partnership will enable impactful
collaboration on food security initiatives within communities
across the country.
"Centene is proud to partner with Feeding America to establish
best practice guidelines for meeting the needs of residents
identified as food insecure," said Marcela
Manjarrez-Hawn, Senior Vice President and Chief
Communications Officer for Centene. "Food insecurity is one of the
most critical social determinants of health, and has a direct
impact on health outcomes. These efforts support our commitment to
ensuring our communities and our members have access to nutritious,
healthy food."
According to Feeding America's annual Map the Meal Gap study,
hunger affects people in every community in the United States. An estimated 11.1 percent
of all households have been food insecure at some point during a
given year,i and consequences of food insecurity
are strongly associated with poor nutrition and negative health
outcomes. The 'Food for Today and Food for Tomorrow' initiative
will build on and expand existing food bank activities, leverage
healthcare capabilities, and incorporate regional and state-level
infrastructure to best meet the needs of patients identified as
food insecure in health care settings.
"This partnership with Centene allows the network of food banks
to partner meaningfully with the healthcare sector. SNAP
participants have better health outcomes and reduced healthcare
costs. Therefore, it is critically important that we
collaborate in implementing strategies to improve SNAP enrollment
and offer other sources of food, such as medically tailored food
boxes, within health care settings," said Dr. Hilary Seligman, senior medical advisor for
Feeding America and associate professor in the department of
medicine at University of California at San
Francisco. "These partnerships and interventions are a key
component of Feeding America's Health and Nutrition strategy."
Centene and Feeding America will pilot the completed guidelines
in various communities across the country in 2020.
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.
About Feeding America
Feeding America® is the largest hunger-relief organization in
the United States. Through a
network of 200 food banks and 60,000 food pantries and meal
initiatives, we provide meals to more than 46 million people each
year. Feeding America also supports initiatives that prevent food
waste and improve food security among the people we serve; educates
the public about the problem of hunger; and advocates for
legislation that protects people from going hungry. Individuals,
charities, businesses and government all have a role in ending
hunger. Donate. Volunteer. Advocate. Educate. Together we can solve
hunger. Visit www.feedingamerica.org, find us
on Facebook or follow us on Twitter.
i
https://www.ers.usda.gov/topics/food-nutrition-assistance/food-security-in-the-us/key-statistics-graphics.aspx
Forward-Looking Statements
All statements, other than statements of current or
historical fact, contained in this press release are
forward-looking statements. 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). Centene (the Company, our, or we) intends such
forward-looking statements to be covered by the safe-harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995, and we are including this
statement for purposes of complying with these safe-harbor
provisions. In particular, these statements include, without
limitation, statements about our future operating or financial
performance, market opportunity, growth strategy, competition,
expected activities in completed and future acquisitions, including
statements about the impact of our proposed acquisition (the
WellCare Transaction) of WellCare Health Plans,
Inc. (WellCare), our recent acquisition (the Fidelis Care
Acquisition) of substantially all the assets of New York State
Catholic Health Plan, Inc., d/b/a Fidelis Care New York ( Fidelis
Care), investments and the adequacy of our available cash
resources. These forward-looking statements reflect our current
views with respect to future events and are based on numerous
assumptions and assessments made by us in light of our experience
and perception of historical trends, current conditions, business
strategies, operating environments, future developments and other
factors we believe 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, including economic,
regulatory, competitive and other factors that may cause our or our
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. These statements
are not guarantees of future performance and are subject to risks,
uncertainties and assumptions. All forward-looking statements
included in this press release are based on information available
to us on the date hereof. Except as may be otherwise required by
law, we undertake no obligation to update or revise the
forward-looking statements included in this press release, whether
as a result of new information, future events or otherwise,
after the date hereof. You should not place undue reliance on
any forward-looking statements, as actual results may differ
materially from projections, estimates, or other forward-looking
statements due to a variety of important factors, variables and
events including but not limited to: the risk that regulatory or
other approvals required for the WellCare Transaction may be
delayed or not obtained or are obtained subject to conditions that
are not anticipated that could require the exertion of management's
time and our resources or otherwise have an adverse effect on us;
the possibility that certain conditions to the consummation of the
WellCare Transaction will not be satisfied or completed on a timely
basis and, accordingly, the WellCare Transaction may not be
consummated on a timely basis or at all; uncertainty as to the
expected financial performance of the combined company following
completion of the WellCare Transaction; the possibility that the
expected synergies and value creation from the WellCare Transaction
will not be realized, or will not be realized within the expected
time period; the exertion of management's time and the Company's
resources, and other expenses incurred and business changes
required, in connection with any regulatory, governmental or third
party consents or approvals for the WellCare Transaction; the risk
that unexpected costs will be incurred in connection with the
completion and/or integration of the WellCare Transaction or that
the integration of WellCare will be more difficult or time
consuming than expected; the risk that potential litigation in
connection with the WellCare Transaction may affect the timing or
occurrence of the WellCare Transaction, cause it not to close at
all, or result in significant costs of defense, indemnification and
liability; unexpected costs, charges or expenses resulting from the
WellCare Transaction; the possibility that competing offers will be
made to acquire WellCare; the inability to retain key personnel;
disruption from the announcement, pendency and/or completion of the
WellCare Transaction, including potential adverse reactions or
changes to business relationships with customers, employees,
suppliers or regulators, making it more difficult to maintain
business and operational relationships; the risk that, following
the WellCare Transaction, the combined company may not be able to
effectively manage its expanded operations; our 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, collectively referred
to as the Affordable Care Act (ACA) and any regulations enacted
thereunder that may result from changing political conditions or
judicial actions, including the ultimate outcome of the District
Court decision in "Texas
v. United States of America" regarding the constitutionality
of the ACA; rate cuts or other payment reductions or delays by
governmental payors and other risks and uncertainties affecting our
government businesses; our 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 our 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 our 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 Fidelis
Care Acquisition, will not be realized, or will not be realized
within the expected time period; the exertion of management's
time and our 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 acquisitions, including the Fidelis Care
Acquisition; disruption caused by significant completed and pending
acquisitions, including, among others, the Fidelis Care
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 Fidelis Care
Acquisition; changes in expected closing dates, estimated purchase
price and accretion for acquisitions; the risk that acquired
businesses, including Fidelis Care, will not be integrated
successfully; the risk that, following the Fidelis Care
Acquisition, we may not be able to effectively manage our expanded
operations; restrictions and limitations in connection with our
indebtedness; our ability to maintain 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 us; inflation; foreign
currency fluctuations; and risks and uncertainties discussed in the
reports that Centene has filed with the Securities
and Exchange Commission. This list of important factors is not
intended to be exhaustive. We discuss certain of these matters more
fully, as well as certain other factors that may affect our
business operations, financial condition and results of operations,
in our filings with the Securities and Exchange
Commission (SEC), including the registration statement on Form
S-4 filed by Centene with the SEC on May
23, 2019, our annual report on Form 10-K, quarterly reports on Form
10-Q and current reports on Form 8-K. Due to these important
factors and risks, we cannot give assurances with respect to our
future performance, including without limitation our ability to
maintain adequate premium levels or our ability to control our
future medical and selling, general and administrative
costs.
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SOURCE Centene Corporation