ST.
LOUIS, Nov. 17, 2022 /PRNewswire/ -- Centene
Corporation (NYSE: CNC) announced today that it has successfully
completed the previously announced divestiture of its Spanish
and Central European Businesses to the French private hospitals
group Vivalto Santé.
"We are pleased to close this transaction, which represents
another key milestone in our value creation plan and enables us to
continue focusing on our core business," said Sarah London, Chief Executive Officer of
Centene.
About Centene Corporation
Centene Corporation, a
Fortune 500 company, is a leading 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 value
creation as well as 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, https://investors.centene.com/.
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 the timing, closing, and
financial impact of the transaction, use of net proceeds of the
transaction, our future operating or financial performance, market
opportunity, value creation strategy, competition, expected
activities in completed and future acquisitions, including
statements about the impact of our recently completed acquisition
of Magellan Health (the Magellan Acquisition), other recent and
future acquisitions and dispositions, 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 the closing conditions, including
applicable regulatory approvals for the transaction may be delayed
or not obtained, uncertainty as to the expected financial
performance of the combined company following the recent completion
of the Magellan Acquisition; the possibility that the expected
synergies and value creation from the Magellan Acquisition or the
acquisition of WellCare Health Plans, Inc.(the WellCare
Acquisition) (or other acquired businesses) will not be realized,
or will not be realized within the respective expected time
periods; disruption from the integration of the Magellan
Acquisition or from the integration of the WellCare Acquisition,
unexpected costs, 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; a downgrade
of the credit rating of our indebtedness; 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; changes in
expected closing dates, estimated purchase price and accretion for
acquisitions; restrictions and limitations in connection with our
indebtedness; 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 our 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