Key Developments: Health Net Inc (HNT.N)

HNT.N on New York Stock Exchange

8 Feb 2016
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Latest Key Developments (Source: Significant Developments)

Health Net Inc reaffirms FY 2015 earnings per diluted share guidance
Tuesday, 4 Aug 2015 09:00am EDT 

Health Net Inc:Says that it is maintaining GAAP earnings per diluted share guidance of at least $2.70 for the full year 2015.Says it is maintaining diluted EPS guidance for the combined Western Region and Government Contracts segments at a range of $3.25 to $3.35 for FY 2015.  Full Article

Health Net Inc announces merger agreement - Form 8k
Tuesday, 7 Jul 2015 06:10am EDT 

Health Net Inc:Enters into an agreement and plan of merger with Centene Corporation, together with Chopin Merger Sub I, Inc. (Merger Sub I) and Chopin Merger Sub II, Inc. ('Merger Sub II'), each a Delaware corporation and a direct, wholly-owned subsidiary of Centene.Says the terms and subject to the conditions set forth in the merger agreement, Merger Sub I will merge with and into the company, with the Company as the surviving corporation.  Full Article

Centene Corporation to buy all shares of Health Net for $6.8 billion
Thursday, 2 Jul 2015 07:08am EDT 

Centene Corporation:Boards of Directors of both companies have unanimously approved a definitive agreement.Under which Centene will acquire all of the shares of Health Net in a cash and stock transaction valued at about $6.8 billion, including the assumption of approximately $500 million of debt.Under the terms of the agreement, Health Net shareholders would receive 0.622 shares of Centene common stock and $28.25 in cash for each share of Health Net common stock.Based on Centene's closing stock price on July 1, the implied consideration of $78.57 per share represents a premium of approximately 21% over Health Net's closing stock price on July 1, and of approximately 26% on June 1.Upon completion of the transaction, Centene shareholders would own approximately 71% of the combined entity, with Health Net shareholders owning approximately 29%.Transaction is expected to be significantly accretive to Centene's diluted earnings per share in the first year following closing.  Full Article

Health Net Inc maintains FY 2015 EPS guidance
Monday, 4 May 2015 08:30am EDT 

Health Net Inc:Is maintaining FY 2015 guidance for GAAP earnings per diluted share of at least $2.70.  Full Article

Health Net Inc's Health Net Federal Services receives contract extension of up to three additional one-year option periods to continue providing TRICARE Services
Friday, 27 Mar 2015 04:10pm EDT 

Health Net Federal Services:Says that the U.S. Department of Defense (DoD) modified the Company's TRICARE program contract in the North Region to, among other things, add three additional one-year option periods.As part of the modification, the DoD awarded the first of the three option periods, allowing Health Net to continue providing access to health care services to TRICARE beneficiaries through at least March 31, 2016.Says if the DoD ultimately exercises the two remaining option periods, the contract will run through March 31, 2018.Health Net Federal Services is a subsidiary of Health Net Inc.  Full Article

Health Net Inc gives FY 2015 EPS guidance
Tuesday, 10 Feb 2015 08:30am EST 

Health Net Inc:Expects GAAP earnings per diluted share (EPS) of at least $2.70 for FY 2015.  Full Article

Health Net Inc updates FY 2015 EPS guidance
Wednesday, 17 Dec 2014 04:05pm EST 

Health Net Inc:Expects FY 2015 annual guidance of at least $2.55 for GAAP earnings per diluted share (EPS) and at least $3.15 per diluted share for the combined Western Region Operations (Western Region) and Government Contracts segments.FY 2015 EPS of $3.20 - Thomson Reuters I/B/E/S.  Full Article

Health Net Inc increases share repurchase authorization to $400 mln
Wednesday, 17 Dec 2014 04:05pm EST 

Health Net Inc:On Dec. 16, 2014, board approved a $258 million increase to company's existing share repurchase program.Prior to Dec. 16, Health Net had about $142 million of authorization remaining under company's existing share repurchase program.Including newly authorized repurchase authority, Health Net currently has $400 million in repurchase authority.  Full Article

State of California awards prison Health contract to Health Net Federal Services
Thursday, 13 Nov 2014 08:30am EST 

Health Net Inc:Health Net Federal Services, LLC (Health Net), subsidiary of Health Net, Inc., announces that it has entered into contract with California Department of Corrections and Rehabilitation (CDCR) to continue providing CDCR a network of community-based specialty health care providers.Health Net also will provide, per terms of contract, third-party administration of health care claims and development of, and ongoing support for, an electronic prior-authorization program for CDCR.Contract is effective as of Oct. 1, and will continue for an initial term of five years, with five one-year extensions at CDCR's option.  Full Article

Health Net Inc reaffirms FY 2015 EPS guidance - Conference Call
Tuesday, 11 Nov 2014 03:30pm EST 

Health Net Inc:Says for FY 2015, it is comfortable with an EPS guidance somewhere in the $3.10 to $3.15 range which really represents about 38-40 pct increase in EPS year-over-year, quite remarkable.  Full Article

Long-term-care provider pays $47 mln to settle fraud claims

CenterLight Health System Inc, a New York long-term managed care provider, agreed on Thursday to pay $47 million to settle allegations that it enrolled ineligible Medicaid beneficiaries.

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