ST. LOUIS and CHARLOTTE,
N.C., June 21, 2021
/PRNewswire/ -- Today, Centene Corporation (NYSE: CNC)
dedicated its new East Coast headquarters in Charlotte. The
first phase of construction, which broke ground in August 2020 and is anticipated to be completed in
2022, will span nine floors and include 800,000 square feet of
meeting and office space. The second phase is set to begin in 2024,
and once completed, the 2.4 million square foot campus will
accommodate a total of 6,000 employees.
The campus, which is located at University Research Park, will
include a number of employee amenities including a childcare and
early education center, a variety of dining venues, auditorium,
fitness center, healthcare clinic and pharmacy, solar charging
electric car stations, walking trails, mobility hubs, and a
stand-alone building housing a corporate learning and development
center named Centene Tech University. The Charlotte campus will support Centene's local
health plans and serve as an East Coast headquarters for the
enterprise, providing innovation and advanced technology for
Centene's West Coast campus in Sacramento, California and Centene's global
headquarters in St. Louis,
Missouri.
"Our new state-of-the-art campus and growing Charlotte workforce will enable Centene to
drive innovation through technology and continue advancing our
mission of serving the most vulnerable populations in North Carolina and across the country," said
Michael Neidorff, Chairman,
President and CEO of Centene. "We are honored to contribute to the
economic development of the region and are proud to announce that,
over time, we will invest $1
billion in the Charlotte community. We are thankful
to our many partners within the city of Charlotte, the county
of Mecklenburg, and the state of North Carolina and look
forward to continued collaboration and growth."
"Centene's decision to build its East Coast headquarters in our
state is a testament to our dedicated workforce and wonderful
quality of life," said Governor Roy
Cooper. "I look forward to seeing the positive economic
impact these new jobs have on Charlotte, the surrounding counties, and our
entire state."
"We are excited to reach this milestone and look forward to
Centene's continued growth and investment in the Queen City," said Charlotte Mayor Vi
Lyles. "Our entire region will benefit from the company's
community-driven mission and commitment to diversity and inclusion
in the workplace."
"Mecklenburg County is excited
to welcome Centene Corporation's East Coast Headquarters to
Charlotte," said George Dunlap, Chairman of the Mecklenburg Board of County Commissioners. "We
are also equally excited to see how the addition of this Fortune
100 company will positively impact the residents we serve as new
job opportunities become available as a result of the county's
investment."
Centene has hired 700 employees in North Carolina over the past 12 months and
continues to actively recruit in multiple areas such as information
technology, finance, compliance, health economics, business
analytics, human resources, and quality. Prior to the announcement
of the new East Coast headquarters, Centene employed 600 employees
in North Carolina.
"Centene continues to evolve into a technology company that does
healthcare," added Neidorff. "Our new campus is designed to meet
the modern expectations of today's professionals while serving as a
technology hub to help shape the future of healthcare."
When completed, this campus will serve as a model for the future
of hybrid collaboration and engagement, enabled through a modern
infrastructure.
Centene is pursuing WELL Certification at the platinum level for
the campus. Together with two other campuses in St. Louis and Sacramento, Centene has now enrolled with the
International WELL Building Institute for the Centene Corporate
headquarters WELL portfolio, promoting health and well-being at
scale. Designed to enhance teamwork and in-person productivity, the
campus will be one of the first WELL Portfolios in the healthcare
industry worldwide.
About Centene Corporation
Centene
Corporation, a Fortune 25 company, is a leading multi-national
healthcare enterprise that is committed to helping people live
healthier lives. The Company takes a local approach – with local
brands and local teams – to provide fully integrated, high-quality,
and cost-effective services to government sponsored and commercial
healthcare programs, focusing on under-insured and uninsured
individuals. Centene offers affordable and high-quality
products to nearly 1 in 15 individuals across the nation, including
Medicaid and Medicare members (including Medicare Prescription Drug
Plans) as well as individuals and families served by
the Health Insurance Marketplace, the TRICARE program, and
individuals in correctional facilities. The Company also serves
several international markets, and contracts with other healthcare
and commercial organizations to provide a variety of specialty
services focused on treating the whole
person. Centene focuses on long-term growth and the
development of its people, systems and capabilities so that it can
better serve its members, providers, local communities, and
government partners.
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://investors.centene.com.
Forward-Looking Statements
All
statements in this press release that are not purely historical
facts are forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended and Section 21E of
the Securities Exchange Act of 1934, as amended. 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).In particular, these statements
include, without limitation, statements about our settlements
with Ohio and Mississippi to resolve claims
made by the states with regard to practices at Envolve, our
pharmacy benefits manager subsidiary, and other possible future
claims and settlements related to the practices
at Envolve and our ability to settle claims with other
states within the reserve estimate we have recorded and on other
acceptable terms, or at all, 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 of Magellan
Health, Inc. (Magellan Health and such acquisition, the Magellan
Acquisition), our recently completed acquisition of WellCare
Health Plans, Inc. (WellCare and such acquisition, the
WellCare Acquisition), other recent and future acquisitions,
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 of
this press release. 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 of this
press release. 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 impact of COVID-19 on global
markets, economic conditions, the healthcare industry and our
results of operations and the response by governments and other
third parties; the risk that regulatory or other approvals required
for the Magellan Acquisition may be delayed or not obtained or are
subject to unanticipated conditions 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 Magellan Acquisition will not be satisfied or
completed on a timely basis and accordingly the Magellan
Acquisition 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 Magellan Acquisition;
the possibility that the expected synergies and value creation from
the Magellan Acquisition or the WellCare Acquisition (or other
acquired businesses) will not be realized, or will not be realized
within the respective expected time periods; the risk that
unexpected costs will be incurred in connection with the completion
and/or integration of the Magellan Acquisition or that the
integration of Magellan Health will be more difficult or time
consuming than expected; the risk that potential litigation in
connection with the Magellan Acquisition may affect the timing or
occurrence of the Magellan Acquisition or result in significant
costs of defense, indemnification and liability; a downgrade of the
credit rating of our indebtedness, which could give rise to an
obligation to redeem existing indebtedness; the inability to retain
key personnel; disruption from the announcement, pendency,
completion and/or integration of the Magellan Acquisition or from
the integration of the WellCare Acquisition, or similar risks from
other acquisitions we may announce or complete from time to time,
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; our ability to accurately predict and effectively
manage health benefits and other operating expenses and reserves,
including fluctuations in medical utilization rates due to the
impact of COVID-19; 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 ("ACA") and the Health Care and Education
Affordability Reconciliation Act, collectively referred to as the
ACA and any regulations enacted thereunder that may result from
changing political conditions, the new administration or judicial
actions, including the ultimate outcome 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; tax matters; disasters or major epidemics; changes
in expected contract start dates; provider, state, federal, foreign
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
legal and regulatory proceedings or matters, including the ongoing
regulatory review of claims against our PBM business or
whether additional claims, reviews or investigations relating to
our PBM business will be brought by other states, the federal
government or shareholder litigants, or government investigations;
challenges to our contract awards; cyber-attacks or other privacy
or data security incidents; 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 Magellan
Acquisition; disruption caused by significant completed and pending
acquisitions 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; changes in expected closing dates,
estimated purchase price and accretion for acquisitions; the risk
that acquired businesses will not be integrated successfully;
restrictions and limitations in connection with our indebtedness;
our ability to maintain or achieve improvement in the Centers
for Medicare and Medicaid Services 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 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