S&P 600 SmallCap
17.03.2006 20:34:00
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Centene Corporation Subsidiary Receives Preliminary Notification of Ohio Medicaid Contract Awards
The state has not yet released the roll-out dates for theimplementation and has set a meeting date of March 24, 2006, toprovide further information.
Michael F. Neidorff, Centene's Chairman and Chief ExecutiveOfficer, stated, "We are pleased to have received notification of ourpreliminary acceptance as one of the managed care plans selected byOhio to serve Medicaid recipients in the Northwest and East Centralregions, expanding the number of counties we serve from two to 27. Ourcurrent enrollment will go from 59,000 to approximately 100,000, whichincludes our announced acquisition of MediPlan Corporation, which isexpected to close by the beginning of the third quarter 2006, andrepresents significant growth. While we are disappointed that we werenot selected to participate in additional regions, we did establishstrong relationships that will prove to be critical as we review ouroptions for the Aged, Blind & Disabled expansion later this year.
"We will always believe that standing firm and maintaining ourdisciplined approach on contracting and rates was the appropriate andconservative decision in this highly competitive environment eventhough it may have cost us expansion opportunities in a number ofregions. Separately, we are evaluating our continued interest in theCentral region, the largest one, which the State plans to re-bid dueto only two health plans meeting their requirements. We look forwardto continuing to serve the state of Ohio in meeting the needs of theirMedicaid recipients," concluded Neidorff.
About Centene Corporation
Centene Corporation provides multi-line managed care programs andrelated services to individuals receiving benefits under Medicaid,including Supplemental Security Income (SSI) and the State Children'sHealth Insurance Program (SCHIP). The Company operates health plans inIndiana, Kansas, Missouri, New Jersey, Ohio, Texas and Wisconsin. Inaddition, the Company contracts with other healthcare organizations toprovide specialty services including behavioral health, diseasemanagement, nurse triage, pharmacy benefit management and treatmentcompliance. Information regarding Centene is available via theInternet at www.centene.com.
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