ST. LOUIS, Jan. 22, 2019 /PRNewswire/ -- Centene Corporation
(NYSE:CNC) announced today that Arizona's Department of Corrections has
notified Centurion of Arizona, LLC
(Centurion) of the state's intent to award a contract to provide
comprehensive healthcare services to inmates housed in Arizona's state prison system.
The contract is expected to commence July
1, 2019 with a base term of two years and three one-year
renewal options, which are subject to customary contract
negotiation.
Under the agreement, Centurion will place over 1,000 full-time
equivalent employees at state-run prison facilities throughout
Arizona to provide a wide array of
medical, dental, and mental health services to an average daily
population of approximately 33,700.
"This award gives us another opportunity to provide our
innovative staffing and managed care solutions to a large, complex
state correctional agency," said Steven H.
Wheeler, CEO of Centurion. "We look forward to a strong
partnership with the Arizona Department of Corrections, the
clinical professionals that provide care to this population, and
with community providers."
Centurion is a leading national provider of healthcare and
behavioral health services to 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. 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 of Health
Net, Inc. (Health Net) (Health Net Acquisition) and the
acquisition of New York State Catholic Health Plan, Inc.,
d/b/a Fidelis Care New York (Fidelis
Care) (Fidelis Care Acquisition). 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
"believe", "anticipate", "plan", "expect", "estimate", "intend",
"seek", "target", "goal", "may", "will", "would", "could",
"should", "can", "continue" and other similar words and expressions
(and 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 or judicial actions,
including the ultimate outcome of the District Court
decision in "Texas v. United States of
America" regarding the constitutionality of the Affordable
Care Act (ACA) on Friday, December 14,
2018; 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'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'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
Fidelis Care Acquisition, will not be realized, or will not be
realized within the expected time period; 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 Fidelis Care Acquisition; disruption caused
by significant completed and pending acquisitions, including the
Health Net Acquisition and 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 Health Net Acquisition and the Fidelis
Care Acquisition; changes in expected closing dates, estimated
purchase price and accretion for acquisitions; the risk that
acquired businesses, including Health Net and Fidelis Care, will not be integrated
successfully; the risk that, following the Fidelis Care
Acquisition, Centene may not be able to effectively
manage its expanded operations; restrictions and limitations in
connection with Centene's
indebtedness; 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; the stock split and the required stockholders
approval to increase Centene's authorized common stock; 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, the Fidelis Care 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 report on Form 10-K, quarterly
reports on Form 10-Q and current reports on Form 8-K.
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SOURCE Centene Corporation