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 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.
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.
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SOURCE Centene Corporation