Centene May Sell Its International Business As Health Insurer Expands In The U.S.
Michael Neidorff, president and chief govt officer of Centene Corp., speaks to a reporter after … [+]
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Well being insurer Centene mentioned it was inspecting its “non-core property” as a part of an effort to streamline its operations and increase into new U.S. markets.
Centene, which is thought for offering government-subsidized medical insurance within the U.S., mentioned Friday it’s “reviewing its non-core property as a part of its ongoing portfolio optimization processes, together with evaluating strategic alternate options for its worldwide enterprise.”
The announcement, made as a part of Centene’s annual investor day, comes as the corporate is on the verge of bolstering its U.S. medical insurance choices with Magellan Well being, which sells behavioral well being providers. Centene is hoping to shut its Magellan Well being acquisition by the top of this 12 months, the corporate mentioned.
Centene expects 2022 income of $135.9 billion to $137.9 billion, which was above most analysts expectations. That forecast compares to 2021 whole income steering of between $125.2 billion to $126.4 billion that the corporate affirmed Friday.
Worldwide operations are a small fraction of Centene’s general enterprise. In a slide presentation Friday, Centene’s worldwide enterprise confirmed income of greater than $2 billion and included operations in the UK and elsewhere. The corporate additionally has hospitals in these markets.
In the meantime, Centene has already been rising into a bigger firm within the U.S. as People join Medicaid, the medical insurance for low revenue People it manages by way of contracts with states and particular person protection underneath the Reasonably priced Care Act often known as Obamacare. And Centene has been increasing into the enterprise of Medicare Benefit, the privatized well being advantages myriad well being insurers supply senior by way of contract with the federal authorities.
“Our Medicaid, Medicare, and Market merchandise are effectively positioned amid a dynamic and evolving healthcare panorama,” Centene chairman and chief govt officer Michael Neidorff mentioned. “The robust management from our govt groups and the dedication of our staff to help our valued members have allowed us to develop our capabilities to now serve the healthcare wants of almost 1 in 15 People throughout all 50 states.”
