Centene Corporation has announced that it has completed its acquisition of Magellan Health, thereby enabling the health insurer to provide whole-health, integrated healthcare solutions, the company said this week. The stated goal and expectation is that this will allow Centene to deliver better health outcomes at lower costs for complex, high-cost populations. What Magellan
Michael Neidorff attended the Urban League's back-to-school event, and he was impressed with how effective the organization has been in helping the community.
Centene Appoints Drew Asher as Chief Financial Officer
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ST. LOUIS, May 7, 2021 /PRNewswire/ Centene Corporation (NYSE: CNC) announced today that Drew Asher is appointed Executive Vice President and Chief Financial Officer, effective today. He will report to Michael Neidorff, Centene Chairman, President and CEO.
Mr. Asher is succeeding Jeffrey A. Schwaneke, who is rotating to the role of Executive Vice President of HealthCare Enterprises, in line with the company s rotation practice as part of our executive development. Mr. Schwaneke will report to Sarah London, President, Health Care Enterprises and Executive Vice President, Advanced Technology, HealthCare Enterprises. HealthCare Enterprises is a portfolio of high growth companies independent of Centene health plans, designing differentiated platform capabilities and delivering industry-leading products and services to third-party customers.
Insurer Centene to Buy Magellan for $2.2 Billion to Expand Its Mental Health Services
Health insurer Centene Corp. said on Monday it has agreed to buy Magellan Health Inc. in a $2.2 billion deal including debt, looking to build up its mental health services as more Americans struggle with COVID-19-related behavioral and anxiety issues.
Centene has offered $95 per share in cash, a 14.7% premium to the pharmacy benefits manager’s Thursday closing price.
Shares of Magellan Health, which also provides mental health services to patients with serious mental illness, autism and opioid and substance use, were up 13.1% at $93.70 on Monday afternoon on the Nasdaq.