ST. LOUIS, Oct. 9, 2019 /PRNewswire/
-- Centene Corporation (NYSE: CNC) announced today that Edmund
Kroll, Senior Vice President, Finance & Investor Relations, has advised the
company of his intention to retire, effective April 30, 2020.
Since joining Centene in May of
2007, Mr. Kroll has managed the company's relationships and interactions with
analysts and investors. He has also served as President and a Board member of
the St. Louis chapter of NIRI (National Investor Relations
Institute).
"We appreciate Ed's leadership in
building and maintaining relationships with our investor community over the
past 12 years, which was an important time in our growth as a diversified,
multi-national healthcare enterprise," said Michael F. Neidorff,
Chairman, President and CEO of Centene. "Ed's contributions have been
invaluable to the organization, and we wish him well in his retirement."
The company expects to announce his
replacement in the near future. From now until his retirement, Mr. Kroll will
continue to lead Investor Relations for the company.
About Centene
Centene Corporation, a Fortune 100 company, is a diversified, multi-national healthcare enterprise that provides a portfolio of services to government sponsored and commercial healthcare programs, focusing on under-insured and uninsured individuals. Many receive benefits provided under Medicaid, including the State Children's Health Insurance Program (CHIP), as well as Aged, Blind or Disabled (ABD), Foster Care and Long-Term Services and Supports (LTSS), in addition to other state-sponsored programs, Medicare (including the Medicare prescription drug benefit commonly known as "Part D"), dual eligible programs and programs with the U.S. Department of Defense. Centene also provides healthcare services to groups and individuals delivered through commercial health plans. Centene operates local health plans and offers a range of health insurance solutions. It also contracts with other healthcare and commercial organizations to provide specialty services including behavioral health management, care management software, correctional healthcare services, dental benefits management, commercial programs, home-based primary care services, life and health management, vision benefits management, pharmacy benefits management, specialty pharmacy and telehealth services.
Centene Corporation, a Fortune 100 company, is a diversified, multi-national healthcare enterprise that provides a portfolio of services to government sponsored and commercial healthcare programs, focusing on under-insured and uninsured individuals. Many receive benefits provided under Medicaid, including the State Children's Health Insurance Program (CHIP), as well as Aged, Blind or Disabled (ABD), Foster Care and Long-Term Services and Supports (LTSS), in addition to other state-sponsored programs, Medicare (including the Medicare prescription drug benefit commonly known as "Part D"), dual eligible programs and programs with the U.S. Department of Defense. Centene also provides healthcare services to groups and individuals delivered through commercial health plans. Centene operates local health plans and offers a range of health insurance solutions. It also contracts with other healthcare and commercial organizations to provide specialty services including behavioral health management, care management software, correctional healthcare services, dental benefits management, commercial programs, home-based primary care services, life and health management, vision benefits management, pharmacy benefits management, specialty pharmacy and telehealth services.
Centene uses its investor relations
website to publish important information about the company, including
information that may be deemed material to investors. Financial and other
information about Centene is routinely posted and is accessible
on Centene's investor relations website, http://www.centene.com/investors.
Cautionary Statement on Forward-Looking Statements
of Centene
All statements, other than statements of current or historical fact, contained in this communication are forward-looking statements. Without limiting the foregoing, forward-looking statements often use words such as "believe," "anticipate," "plan," "expect," "estimate," "intend," "seek," "target," "goal," "may," "will," "would," "could," "should," "can," "continue" and other similar words or expressions (and the negative thereof). In particular, these statements include, without limitation, statements about Centene's future operating or financial performance, market opportunity, growth strategy, competition, expected activities in completed and future acquisitions, including statements about the impact of Centene's proposed acquisition of WellCare Health Plans, Inc. (the "WellCare Transaction"), Centene's recent acquisition (the "Fidelis Care Transaction") of substantially all the assets of New York State Catholic Health Plan, Inc., d/b/a Fidelis Care New York ("Fidelis Care"), investments and the adequacy of Centene's available cash resources.
All statements, other than statements of current or historical fact, contained in this communication are forward-looking statements. Without limiting the foregoing, forward-looking statements often use words such as "believe," "anticipate," "plan," "expect," "estimate," "intend," "seek," "target," "goal," "may," "will," "would," "could," "should," "can," "continue" and other similar words or expressions (and the negative thereof). In particular, these statements include, without limitation, statements about Centene's future operating or financial performance, market opportunity, growth strategy, competition, expected activities in completed and future acquisitions, including statements about the impact of Centene's proposed acquisition of WellCare Health Plans, Inc. (the "WellCare Transaction"), Centene's recent acquisition (the "Fidelis Care Transaction") of substantially all the assets of New York State Catholic Health Plan, Inc., d/b/a Fidelis Care New York ("Fidelis Care"), investments and the adequacy of Centene's available cash resources.
These forward-looking statements
reflect Centene's current views with respect to future events and are
based on numerous assumptions and assessments made by us in light
of Centene's experience and perception of historical trends, current
conditions, business strategies, operating environments, future developments
and other factors Centene believes appropriate. By their nature,
forward-looking statements involve known and unknown risks and uncertainties
and are subject to change because they relate to events and depend on
circumstances that will occur in the future, including economic, regulatory,
competitive and other factors that may cause Centene's or its
industry's actual results, levels of activity, performance or achievements to
be materially different from any future results, levels of activity,
performance or achievements expressed or implied by these forward-looking
statements. These statements are not guarantees of future performance and are subject
to risks, uncertainties and assumptions.
All forward-looking statements included in
this filing are based on information available to us on the date of this
communication. Except as may be otherwise required by
law, Centene undertakes no obligation to update or revise the
forward-looking statements included in this communication, whether as a result
of new information, future events or otherwise, after the date of this filing.
You should not place undue reliance on any forward-looking statements, as
actual results may differ materially from projections, estimates, or other
forward-looking statements due to a variety of important factors, variables and
events including, but not limited to, the following:
(i) Centene's ability to accurately predict and effectively manage
health benefits and other operating expenses and reserves; (ii) competition;
(iii) membership and revenue declines or unexpected trends; (iv) changes in
healthcare practices, new technologies, and advances in medicine; (v) increased
healthcare costs, (vi) changes in economic, political or market conditions;
(vii) changes in federal or state laws or regulations, including changes with
respect to income tax reform or government healthcare programs as well as
changes with respect to the Patient Protection and Affordable Care Act and the
Health Care and Education Affordability Reconciliation Act, collectively
referred to as the Affordable Care Act ("ACA"), and any regulations
enacted thereunder that may result from changing political conditions or
judicial actions, including the ultimate outcome of the District Court decision
in "Texas v. United States of America" regarding the
constitutionality of the ACA; (viii) rate cuts or other payment reductions or
delays by governmental payors and other risks and uncertainties affecting Centene's government
businesses; (ix) Centene's ability to adequately price products on
federally facilitated and state-based Health Insurance Marketplaces; (x) tax
matters; (xi) disasters or major epidemics; (xii) the outcome of legal and
regulatory proceedings; (xiii) changes in expected contract start dates; (xiv)
provider, state, federal and other contract changes and timing of regulatory
approval of contracts; (xv) the expiration, suspension, or termination
of Centene's contracts with federal or state governments (including
but not limited to Medicaid, Medicare, TRICARE or other customers);
(xvi) the difficulty of predicting the timing or outcome of pending or future
litigation or government investigations; (xvii) challenges
to Centene's contract awards; (xviii) cyber-attacks or other privacy
or data security incidents; (xix) the possibility that the expected synergies
and value creation from acquired businesses, including, without limitation, the
Fidelis Care Transaction and the WellCare Transaction, will not be realized, or
will not be realized within the expected time period; (xx) the exertion of
management's time and Centene's resources, and other expenses
incurred and business changes required in connection with complying with the
undertakings in connection with any regulatory, governmental or third party
consents or approvals for acquisitions, including the Fidelis Care Transaction
and the WellCare Transaction; (xxi) disruption caused by significant completed
and pending acquisitions, including, among others, the Fidelis Care Transaction
and the WellCare Transaction, making it more difficult to maintain business and
operational relationships; (xxii) the risk that unexpected costs will be
incurred in connection with the completion and/or integration of acquisition transactions,
including, among others, the Fidelis Care Transaction and the WellCare
Transaction; (xxiii) changes in expected closing dates, estimated purchase
price and accretion for acquisitions; (xxiv) the risk that acquired businesses,
including Fidelis Care, will not be integrated successfully; (xxv) the
risk that, following the Fidelis Care Transaction and the WellCare
Transaction, Centene may not be able to effectively manage its
expanded operations; (xxvi) restrictions and limitations in connection with Centene's indebtedness;
(xxvii) Centene's ability to maintain the Centers for Medicare
and Medicaid Services (CMS) Star ratings and maintain or achieve
improvement in other quality scores in each case that can impact revenue and
future growth; (xxviii) availability of debt and equity financing, on terms
that are favorable to us; (xxxix) inflation; and (xxx) foreign currency
fluctuations.
This list of important factors is not intended
to be exhaustive. We discuss certain of these matters more fully, as well as
certain other factors that may affect Centene's business operations,
financial condition and results of operations, in Centene's filings
with the Securities and Exchange Commission (the "SEC"),
including the registration statement on Form S-4 filed by Centene with
the Securities and Exchange Commission on May 23, 2019 (the
"Registration Statement"), and Centene's Annual Report on
Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. Due
to these important factors and risks, Centene cannot give assurances
with respect to Centene's future performance, including without
limitation Centene's ability to maintain adequate premium levels
or Centene's ability to control its future medical and selling, general
and administrative costs.
View original content:http://www.prnewswire.com/news-releases/centene-announces-edmund-krolls-intent-to-retire-in-april-2020-300934922.html
SOURCE Centene Corporation
Media, Marcela Manjarrez-Hawn, (314) 445-0790,
mediainquiries@centene.com, or Investors, Edmund E. Kroll, Jr., (212) 759-0382,
investors@centene.com
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