Centene Corp (CNC.N)
27 May 2016
* Contract is expected to commence in 2017 and does not impact Centene's previously announced 2016 financial guidance
* Centene Corporation appoints Christopher Isaak as corporate controller and chief accounting officer Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)
* Cuts 2016 adjusted profit forecast to $4.00-$4.35/share (Adds details)
April 26 Health insurer Centene Corp reported a near 36 percent rise in quarterly revenue, helped by higher enrollments in its Medicaid plans and the acquisition of rival Health Net.
* Health benefits ratio of 88.7 pct for Q1 of 2016, compared to 89.8 pct in Q1 of 2015
* Entered into a new credit agreement providing for a $1 billion unsecured multi-currency revolving credit facility
* Appointment of Vicki Escarra, a director of Health Net to board Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)
* Receipt of approval of Centene's planned merger with Health Net from California Department of insurance
* Expect to close deal shortly after receipt of approval from California Department Of Insurance Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)
Insurer Health Net Inc, which is being bought by rival Centene Corp, said it lost members in its individual business that sells plans under Obamacare, echoing thoughts of larger rivals in the sector.