CENTENE’S HEALTH NET ISSUED NEW MEDI-CAL DIRECT CONTRACTS BY CALIFORNIA DEPARTMENT OF HEALTH CARE SERVICES

Health and fitness Internet to Provide Users in 10 counties together with Los Angeles and Sacramento Counties

ST. LOUIS, Jan. 3, 2023 /PRNewswire/ — Centene Corporation (NYSE: CNC) introduced currently the California Department of Well being Treatment Products and services (DHCS) has chosen its California subsidiary Health and fitness Net of California (Wellness Web) for immediate contracts in Los Angeles and Sacramento counties, growing the quantity of direct county contracts by DHCS to 10.

“We are delighted that DHCS chosen us to go on serving Medi-Cal users in 10 counties throughout the state, such as as key provider in Los Angeles County,” claimed Sarah London, Chief Govt Officer of Centene. “We think their selection is in the most effective desire of millions of associates, and we seem ahead to doing the job with DHCS to deal with overall health disparities and improve how healthcare is delivered to Medi-Cal customers across the point out.”

In Los Angeles County, Well being Web has agreed to continue subcontracting with Molina Health care and perform with the condition to assign 50 % of membership to Molina Healthcare effective January 1, 2024.

“We are happy to have been issued contracts by DHCS and look ahead to revolutionary new and modern methods to improve accessibility to high-quality treatment and push wellness fairness for the millions of customers we serve,” explained Brian Ternan, Health and fitness Net’s President and CEO.

The new contracts are predicted to start January 1, 2024. In overall, Wellbeing Web will provide Medi-Cal managed treatment providers in Los Angeles, Sacramento, Amador, Calaveras, Inyo, Mono, San Joaquin, Stanislaus, Tulare and Tuolumne counties. Wellness Web did not receive an award in San Diego. Well being Web proceeds to provide customers in Fresno, Imperial, Kings, and Madera counties via other contractual arrangements.  Well being Internet will conclude its lawful actions associated to the RFP.

Primarily based on the predicted structure of California as explained previously mentioned, as perfectly as the prospective slight effects of Protection Wellness Agency’s current TriCare announcement, the Corporation is lifting its projected 2024 modified EPS flooring to $7.15 from $7.00.  

About Centene Company

Centene Corporation, a Fortune 500 organization, is a main health care organization that is dedicated to supporting men and women dwell healthier lives. The Business takes a area tactic – with nearby brand names and community teams – to deliver thoroughly integrated, large-excellent, and expense-helpful solutions to govt-sponsored and commercial healthcare programs, concentrating on beneath-insured and uninsured persons. Centene offers affordable and large-high quality products to practically 1 in 15 people today across the country, such as Medicaid and Medicare users (like Medicare Prescription Drug Strategies) as nicely as people today and family members served by the Well being Insurance plan Marketplace, the TRICARE system, and people today in correctional amenities. The Business also contracts with other health care and industrial companies to deliver a assortment of specialty services targeted on treating the whole individual. Centene focuses on extended-time period progress and value development as very well as the development of its people today, techniques and capabilities so that it can superior provide its users, vendors, community communities, and govt partners.

Centene works by using its trader relations web-site to publish vital details about the Business, including information that may be deemed substance to buyers. Money and other information and facts about Centene is routinely posted and is obtainable on Centene’s trader relations internet site, http://traders.centene.com

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By their nature, forward-looking statements include known and unknown risks and uncertainties and are matter to alter for the reason that they relate to gatherings and count on circumstances that will manifest in the upcoming, like economic, regulatory, competitive and other factors that may bring about our or our industry’s true effects, ranges of activity, performance or achievements to be materially distinctive from any long run final results, stages of exercise, functionality or achievements expressed or implied by these forward-on the lookout statements. These statements are not guarantees of potential efficiency and are issue to risks, uncertainties and assumptions. All ahead-on the lookout statements incorporated in this push release are primarily based on information and facts out there to us on the date hereof. Other than as may possibly be if not necessary by legislation, we undertake no obligation to update or revise the forward-wanting statements bundled in this push launch, no matter if as a consequence of new information, future events or or else, right after the date hereof. You really should not area undue reliance on any forward-seeking statements, as real outcomes might vary materially from projections, estimates, or other ahead-searching statements owing to a wide range of significant elements, variables and situations which include, but not confined to: our potential to precisely forecast and properly manage wellness rewards and other functioning costs and reserves, like fluctuations in clinical utilization premiums owing to the ongoing impact of COVID-19 our ability to preserve or realize improvement in the Centers for Medicare and Medicaid Products and services (CMS) Star ratings and preserve or accomplish advancement in other high quality scores in each individual circumstance that can influence income and foreseeable future advancement the risk that the election of new directors, modifications in senior management, and any inability to retain vital staff might build uncertainty or negatively effects our ability to execute promptly and proficiently uncertainty as to the envisioned economic overall performance of the combined business adhering to the the latest completion of the acquisition of Magellan Overall health, Inc. (the Magellan Acquisition) the probability that the anticipated synergies and benefit generation from the Magellan Acquisition or the acquisition of WellCare Health Plans, Inc. (the WellCare Acquisition) (or other obtained companies) will not be understood, or will not be realized within the respective envisioned time durations disruption from the integration of the Magellan Acquisition or from the integration of the WellCare Acquisition unanticipated prices, or equivalent risks, from other acquisitions or dispositions we could announce or complete from time to time, including opportunity adverse reactions or alterations to business associations with shoppers, employees, suppliers or regulators, making it extra tricky to keep enterprise and operational relationships the danger that the closing situations, together with relevant regulatory approvals, for the pending disposition of Magellan Specialty Well being may be delayed or not acquired impairments to actual estate, investments, goodwill and intangible belongings a downgrade of the credit history score of our indebtedness competitiveness membership and profits declines or surprising tendencies changes in health care techniques, new technologies, and developments in medication enhanced health care charges variations in financial, political or marketplace circumstances alterations in federal or state legal guidelines or regulations, which include alterations with respect to profits tax reform or federal government healthcare systems as perfectly as alterations with regard to the Patient Protection and Affordable Care Act and the Health Treatment and Instruction Affordability Reconciliation Act (collectively referred to as the ACA) and any regulations enacted thereunder that may possibly end result from modifying political disorders, the existing administration or judicial steps price cuts or other payment reductions or delays by governmental payors and other risks and uncertainties impacting our govt firms our capacity to adequately selling price items tax matters disasters or key epidemics variations in expected deal commence dates provider, state, federal, foreign and other contract adjustments and timing of regulatory acceptance of contracts the expiration, suspension, or termination of our contracts with federal or point out governments (including, but not minimal to, Medicaid, Medicare, TRICARE or other customers) the problems of predicting the timing or result of authorized or regulatory proceedings or matters, like, but not minimal to, our potential to resolve promises and/or allegations created by states with regard to earlier tactics, together with at Envolve Pharmacy Methods, Inc. (Envolve), as our pharmacy benefits manager (PBM) subsidiary, in just the reserve estimate we beforehand recorded and on other appropriate conditions, or at all, or regardless of whether more statements, assessments or investigations relating to our PBM business enterprise will be brought by states, the federal government or shareholder litigants, or governing administration investigations the timing and extent of added benefits from our worth creation strategy, like the possibility that the advantages obtained may possibly be decrease than predicted, may perhaps not occur, or will not be realized inside of the predicted time durations difficulties to our deal awards cyber-attacks or other privacy or data safety incidents the exertion of management’s time and our resources, and other costs incurred and business adjustments expected in connection with complying with the undertakings in connection with any regulatory, governmental or third bash consents or approvals for acquisitions or tendencies any alterations in anticipated closing dates, estimated buy value and accretion for acquisitions or dispositions limits and limitations in connection with our indebtedness the availability of credit card debt and fairness funding on terms that are favorable to us inflation foreign currency fluctuations and pitfalls and uncertainties discussed in the reports that Centene has submitted with the Securities and Exchange Fee. This record of important factors is not meant to be exhaustive. We examine specific of these issues additional completely, as perfectly as specific other elements that may possibly have an impact on our small business operations, monetary ailment and success of operations, in our filings with the Securities and Exchange Fee (SEC), such as our annual report on Sort 10-K, quarterly studies on Type 10-Q and existing reviews on Type 8-K. Owing to these significant things and hazards, we simply cannot give assurances with regard to our long term effectiveness, including with no limitation our potential to keep adequate premium amounts or our means to handle our long term medical and promoting, typical and administrative charges.

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