The paper attempts to examine the history of the Centene cooperation and its division that spread across different state while providing Medicaid and specialty health services.
The paper attempts to examine the history of the Centene cooperation and its division that spread across different state while providing Medicaid and specialty health services.
The paper provides examples of acquisitions and mergers and gives a brief description of the operations of the new entities. In addition, the paper examines the dates and the value of money transacted during the acquisitions and company’s affiliations and some of the developments achieved, as a result, of the two processes. Centene is a fortune 500 company with multiple intensive investments in the provision of quality health for both poor and rich families by ensuring patients receive Medicaid services at an affordable price (Miles, 2012).
Centene Corporation founded in 1984, is a multi-line company operating into two segments, that is, specialty services and Medicaid health care. Based in St. Louis Missouri and headed by Michael Heidorff, who has been the CEO since 2005, Centene provides Medicaid services to a population of two million people with Texas and Georgia being the biggest markets which account to 48% of all members served by the company (Miles, 2012). The cooperation has a huge platform known as Intelligence that is a management solution that specializes in the provision of information capabilities across all channels of communication using advanced analysis and algorithms. Through the channels, Centene can identify its members with high risks and provide actionable data to representatives, medical management employees, case managers and its partners at call centers. The aim of Centelligence is to ensure the members receive appropriate medical care in order to manage and monitor their health. The states benefits from the channels and has a record of 5% to 8% saved cost care for the sickest, poorest and the youngest patients. Centene is a major participant for covering medical care to both sides of the street by reducing fraud and waste and focusing on the concept of universal coverage. Out of the 44 billion dollars spent by the federal and state agencies, Centene received the majority funds of the privatized medical shares by the year 2012 (Centene, 2013).
Some of the recent acquisitions of Centene Corporation include the recent medical management service organization known as the LLC, from the Healthcare Providers Services-(HMOs), which leads in the provision of in-home services for populations facing acute conditions. The organization changed ownership to be under the umbrella of Centene Cooperation on January, 6th, 2014. Under the purchase price indicated in the previous announcement, Centene Cooperation had the highest interest of about 200 million US dollars, of which one-third was cash and two third from Centene stock. The cooperation also managed to buy two health plans at a cost of about 93 million US dollars to cover Medicaid patients in Missouri and Kansas from Swope Community Enterprise. The two health plans staged on September, 4th 2004. According to the CEO, the health plans would add 136000 patients from the two states to company’s total patients. Furthermore, on May, 6th, 2014, Celtic Group Inc, a subsidiary of the Centene cooperation, came to a definitive agreement and signed to acquire NovaSys Health, L.L.C. The newly acquired enterprise is a leading Third Party Administrator (TPA) in Arkanas covering the state employees, ARHealthNetwork and public school employees. The company purchased the NovaSys Health at a price of 80 million US dollars. Centene Cooperation has made another acquisition known as Specialty Pharmacy Leader AcariaHealth, largest nation’s independent and comprehensive Specialty Pharmacy company at an approximate value of $1.7 million of Centene stock and $15 million in cash. The pharmacy companies changed ownership on April 2nd, 2013. The Centene Cooperation has expectations that the acquisition will be neutral on money earned per share for the first 12 months after the acquisition, exclusive of one the time transaction costs. The cooperation also completed acquisition of AcariaHealth in April, 2013 which is a specialty pharmacy company at a price of $ 142.5 million in California. The AcariaHealth Company aimed to provide Medicaid beneficiaries in 18 rural counties using the state’s Medi-Cal Managed Care Rural Expansion program. The company is making a difference by providing medical care for patients with complex diseases (Centene, 2012).
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The paper attempts to examine the history of the Centene cooperation and its division that spread across different state while providing Medicaid and specialty health services. was first posted on October 20, 2019 at 2:10 pm.
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