ST. LOUIS, Feb. 22, 2012 /PRNewswire/ -- Centene Corporation (NYSE: CNC) announced today that its subsidiary, Home State Health Plan, has been selected to contract with the Office of Administration for Missouri to serve Medicaid beneficiaries in the Central, Eastern and Western Managed Care Regions of the state. Approximately 427,000 beneficiaries are eligible to receive services under the MO HealthNet Managed Care program in 54 counties. This award represents the 16th state in which Centene has healthplan/hybrid operations.
We expect to commence operations in the third quarter of this year. Home State Health Plan will provide coordinated healthcare and behavioral health services to members enrolled in the MO HealthNet Managed Care program, including those receiving benefits under categories of aid for Parents and Caretakers, Children, Newborns, Pregnant Women and Refugees; Children in the Care and Custody of the State and Adoption Subsidy; and, Children's Health Insurance Program.
"We are honored to be awarded a Medicaid managed care contract to begin serving Managed Care members here in Missouri," said Jesse N. Hunter, Executive Vice President of Operations of Centene. "We believe our strategic provider partnerships in Missouri will help us deliver improved health outcomes for our members at a lower cost for the state."
"For more than 15 years, we have called Missouri home to our corporate headquarters. We have added hundreds of jobs and made significant investments into the region," said Michael F. Neidorff, Chairman and Chief Executive Officer of Centene. "We embrace the opportunity to bring our award-winning quality programs and healthcare services to our most vulnerable neighbors across the state."
Updates regarding this award will be provided when additional material information becomes available. As a reminder, Centene's 2012 first quarter financial results conference call will be held on April 24, 2012 at 8:30am (Eastern Time).
About Centene Corporation
Centene Corporation, a Fortune 500 company, is a leading multi-line healthcare enterprise that provides programs and related services to the rising number of under-insured and uninsured individuals. Many receive benefits provided under Medicaid, including the Children's Health Insurance Program (CHIP), as well as Aged, Blind or Disabled (ABD), Foster Care and long-term care, in addition to other state-sponsored programs, and Medicare (Special Needs Plans). Centene's CeltiCare subsidiary offers states unique, "exchange based" and other cost-effective coverage solutions for low-income populations. The Company 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, life and health management, managed vision, telehealth services, and pharmacy benefits management. More information regarding Centene is available at www.centene.com.
The information provided in this press release contains forward-looking statements that relate to future events and future financial performance of Centene. Subsequent events and developments may cause the Company's estimates to change. The Company disclaims any obligation to update this forward-looking financial information in the future. Readers are cautioned that matters subject to forward-looking statements involve known and unknown risks and uncertainties, including economic, regulatory, competitive and other factors that may cause Centene's or its 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. Actual results may differ from projections or estimates due to a variety of important factors, including Centene's ability to accurately predict and effectively manage health benefits and other operating expenses, competition, membership and revenue projections, timing of regulatory contract approval, changes in healthcare practices, changes in federal or state laws or regulations, inflation, provider contract changes, new technologies, reduction in provider payments by governmental payors, major epidemics, disasters and numerous other factors affecting the delivery and cost of healthcare. The expiration, cancellation or suspension of Centene's Medicaid Managed Care contracts by state governments would also negatively affect Centene.
Home State Health Plan
16090 Swingley Ridge Road
Chesterfield, MO 63017
SOURCE Centene Corporation
Media, Deanne Lane, +1-314-725-4477, or Investors, Edmund E. Kroll, Jr., +1-212-759-0382, both for Centene Corporation