Centene Corp (CNC.N)
Tue, Jul 26 2016
Centene Corp's chief executive said the mid-cap health insurer did not have the network for the Medicare Advantage assets Aetna Inc or other large managed care companies are looking to sell as part of the industry-wide consolidation.
* Shares fall as much as 15 pct (Adds CEO comments, share move)
July 26 Health insurer Centene Corp said its quarterly revenue nearly doubled, helped by the acquisition of rival Health Net.
* June 30, 2016 managed care membership of 11.4 million, an increase of 6.8 million members, or 148% compared to Q2 of 2015.
WellCare Health Plans Inc and Centene Corp have made competing offers for the Medicare Advantage insurance plans that Aetna Inc looks to shed in seeking clearance for its acquisition of Humana Inc , people familiar with the matter said. | Video
* Centene Corp says priced $500 million aggregate principal amount of its 4.75 pct senior notes due 2022
* Commenced an offering of approximately $500 million aggregate principal amount of 4.75% senior notes
* 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)
U.S. health insurer Centene Corp reported a better-than-expected quarterly profit, helped by lower medical costs in certain patient populations and the acquisition of rival Health Net.