Centene Corporation (NYSE: CNC) today announced that it has closed the transaction to purchase certain assets of AMERIGROUP Community Care of South Carolina, a wholly-owned subsidiary of AMERIGROUP Corporation. Effective March 1, 2009, the transaction added approximately 14,000 members to Centene’s South Carolina subsidiary, Absolute Total Care.
With this transaction, Absolute Total Care will begin serving members in the Healthy Connections Kids program, South Carolina’s stand-alone SCHIP program to expand eligibility for qualifying uninsured children.
Mark W. Eggert, Executive Vice President, Health Plans, for Centene, stated, “We are pleased to close this transaction and expand operations in South Carolina. The addition of the SCHIP product further strengthens our strategic position in the State and positions us for future organic growth.”
The impact of this transaction was included in our previously-issued financial guidance.
About Centene Corporation
Centene Corporation is a leading multi-line healthcare enterprise that provides programs and related services to individuals receiving benefits under Medicaid, including the State Children’s Health Insurance Program (SCHIP), as well as Aged, Blind, or Disabled (ABD), Foster Care, Long-Term Care and Medicare (Special Needs Plans). The Company operates local health plans and offers a wide range of health insurance solutions to individuals and the rising number of uninsured Americans. It also contracts with other healthcare and commercial organizations to provide specialty services including behavioral health, life and health management, managed vision, nurse triage, pharmacy benefits management and treatment compliance. Information regarding Centene is available via the Internet at www.centene.com.
Edmund E. Kroll
Senior Vice President, Finance and Investor Relations
Senior Director, Corporate Communications