S&P 600 SmallCap
10.05.2006 11:22:00
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Centene Corporation Subsidiary to Acquire Cardium Health Services; Further Expands Disease Management Capabilities
William N. Scheffel, Centene's Senior Vice President and ChiefExecutive, Specialty Companies, stated, "This acquisition gives usadditional product breadth and continues to demonstrate our carefullyplanned strategy to build a multi-line managed healthcare enterprise.The addition of Cardium Health expands our specialty company platforminto a full spectrum of disease states and complements our existingcapabilities."
The purchase price for the transaction is $12.0 million in cashwith the potential of an additional $1.0 million subject to achievingcertain financial targets in 2006 and 2007. Centene does not expectthe acquisition to have a material impact on 2006 earnings.
About Centene Corporation
Centene Corporation is a leading multi-line healthcare enterprisethat provides programs and related services to individuals receivingbenefits under Medicaid, including Supplemental Security Income (SSI)and the State Children's Health Insurance Program (SCHIP). The Companyoperates health plans in Indiana, Kansas, Missouri, New Jersey, Ohio,Texas and Wisconsin. In addition, the Company contracts with otherhealthcare organizations to provide specialty services includingbehavioral health, disease management, nurse triage, pharmacy benefitmanagement and treatment compliance. Information regarding Centene isavailable via the Internet at www.centene.com.
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S&P 600 SmallCap | 935,46 | -0,94% |