Blog Exposure – Centene Purchased Community Medical Group, Florida-Based At-Risk Primary Care Provider

Stock Monitor: Health Insurance Innovations Post Earnings Reporting

LONDON, UK / ACCESSWIRE / March 07, 2018 / Active-Investors.com has just released a free research report on Centene Corp. (NYSE: CNC). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CNC as the Company’s latest news hit the wire. On March 05, 2018, the Company announced that it has inked an agreement to acquire Community Medical Group (“CMG”), a leading, at-risk primary care provider, serving over 70,000 Medicaid, Medicare Advantage, and Health Insurance Marketplace program patients in Miami-Dade County, Florida. The acquisition amount was not disclosed. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Health Insurance Innovations, Inc. (NASDAQ: HIIQ), which also belongs to the Healthcare sector as the Company Centene. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Centene most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=CNC

Details of the Deal

Centene will fund the purchase with cash, or with a combination of cash and the Company’s stock.

The acquisition is expected to have a neutral impact to GAAP and adjusted earnings per share (EPS) in 2018 and to be slightly accretive (low single digits) to GAAP and adjusted EPS in 2019.

The transaction, likely to close in the end of March 2018, is subject to the expiration or termination of the applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and other customary closing conditions.

Deal Benefits

The acquisition will add a premier Medicaid-focused provider group to Centene’s existing in home primary care and correctional care assets, resulting in medical cost savings, and also increasing the Company’s scale and capabilities. CMG also brings an experienced management and clinical team, and a strong network of health plan clients.

The agreement provides a platform for expansion of the model across Florida and potentially into other states. CMG’s unique clinical care model, encompassing primary care, access to certain specialty services and a suite of social and other support services is clearly aligned with Centene’s purpose of transforming the health of the community.

CMG will Benefit from Centene’s scale in Expanding its Geographic Footprint

Commenting on the acquisition, Luis H. Izquierdo, President and CEO of CMG, mentioned that CMG is currently partner with Centene and most leading health plans to provide primary and specialty care to thousands of their members in the South Florida region.

He also added that benefiting from Centene’s scale, CMG looks forward to expanding its geographic footprint while continuously improving outcomes and increasing value by incrementally deploying primary care and social services to the members who need them most.

Centene’s Recent Acquisition Deal

On February 26, 2018, the Company signed a definitive agreement to acquire MHM Services, Inc. (“MHM”) a national provider of healthcare and staffing services to correctional systems and other government agencies. Under the terms of the agreement, Centene acquired 100% of the stock of MHM, including its 49% ownership of Centurion, the correctional healthcare services joint venture between Centene and MHM. The addition of MHM provided Centene with significant scale in the correctional healthcare services market. The transaction was expected to be accretive to earnings in the first 12 months.

About Centene Corp.

Founded in 1984 and headquartered in Saint Louis, Missouri, Centene, a Fortune 500 company, is a diversified, multi-national healthcare enterprise that provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates local health plans and offers a range of health insurance solutions.

Stock Performance Snapshot

March 06, 2018 – At Tuesday’s closing bell, Centene’s stock slightly fell 0.87%, ending the trading session at $101.03.

Volume traded for the day: 972.05 thousand shares.

Stock performance in the previous six-month period – up 14.00%; past twelve-month period – up 42.36%; and year-to-date – up 0.15%

After yesterday’s close, Centene’s market cap was at $17.27 billion.

Price to Earnings (P/E) ratio was at 25.38.

The stock is part of the Healthcare sector, categorized under the Health Care Plans industry.

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