Centene Corporation

Centene Corporation
Public
Traded as NYSE: CNC
S&P 500 Component
Industry Healthcare
Founded 1984
Headquarters Clayton, Missouri, U.S.
Revenue Increase US$ 16.096 billion (2014)[1]
Increase US$ 464 million (2014)[1]
Increase US$ 264 million (2014)[1]
Total assets Increase US$ 5.38 billion (2014)[1]
Number of employees
 13,400 (2014) [1]
Website www.centene.com

Centene Corporation is a Fortune 500 company and a leading multi-line healthcare enterprise that provides services to government healthcare programs. [2] [3]

Centene also contracts with other healthcare and commercial organizations to provide specialty services, including behavioral healthcare services through Cenpatico, care management software, correctional systems healthcare, in-home health services, life and health management, vision, pharmacy benefits management, specialty pharmacy and telehealth services. [4] [5]

History

Founded as a single health plan in Wisconsin in 1984, Centene has established itself as a national leader in healthcare services. Chairman, President and CEO Michael F. Neidorff joined the company in 1996. [6] [7]

Over the past 30 years, Centene has grown to become a $10 billion Fortune 500 company trading on the New York Stock Exchange. With over 13,000 employees across the company, Centene operates health plans that serve 2.9 million members in 21 states and offers a full range of health insurance solutions to other healthcare and commercial organizations. [6] [8]

July 2, 2015, Centene announced it would acquire Health Net. At announcement, it was estimated Health Net shareholders would own 29% of the combined company. March 2016, the merger was finalized and Health Net shareholders received 0.622 shares of Centene common stock and $28.25 in cash for each share at closing, making the total transaction value about $6 billion, including assumption of debt. After its acquisition of Health Net, Centene has 11 million lives. [6] [9][10]

Centene is currently ranked #124 on the Fortune 500 & #4 on the Fortune's "100 Fastest Growing Companies".

Specialty Companies

[11]

Member Programs and Services

Centene's health plans provide education and outreach programs.[12] [6]

Controversies

Superior HealthPlan of Texas is alleged to have denied coverage of an infant's surgery for brain cancer at Texas Children's Hospital where it has been alleged to have previously paid claims for the infant, Savannah Snodgrass. Part of the source of the controversy lies in reports that that facility has a notably higher survival rate for such operations. Superior HealthPlan claims that it does not cover Texas Children's Hospital and that it has directed the family to a different facility. Superior HealthPlan said it is "confident" the family will find capable in-network providers. [13]

References

  1. 1 2 3 4 5 "Form 10-K Centene Corporation". Securities and Exchange Commission. 23 Feb 2015. Retrieved 5 May 2015.
  2. ↑ "About Us - Centene".
  3. ↑ Corporation, Centene. "Centene Sponsors National Council Of La Raza Conference".
  4. ↑ "Corporation - Home". Archived from the original on 2014-06-26.
  5. ↑ http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=CNC
  6. 1 2 3 4 "Corporation - Home".
  7. ↑ "Michael F. Neidorff: Executive Profile & Biography - Businessweek".
  8. ↑ Doyle, Jim. "Centene was top performer in 2013 among St. Louis area public companies".
  9. ↑ http://www.centene.com/wp-content/uploads/2015/07/Centene_HealthNetPressRelease.pdf
  10. ↑ "Centene completes Health Net deal after protracted review".
  11. ↑ "Corporation - Home". Archived from the original on 2014-08-10.
  12. ↑ Corporation, Centene. "- Centene Corporation Reports 2014 Second Quarter Results & Raises Guidance -".
  13. ↑ Corbin, Cristina (9 July 2014). "Parents fight insurance company to keep baby's cancer surgery docs - Fox News".

External links

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