ST. LOUIS, April 29, 2020 /PRNewswire/ -- Centene
(NYSE: CNC) announced today a collaboration with Quest Diagnostics
(NYSE: DGX), the world's leading provider of diagnostic information
services, to increase access to real-time reverse transcription
polymerase chain reaction (rRT-PCR) COVID-19 testing in critical
areas of need across the country. Through this collaboration,
Centene will facilitate the distribution of 25,000 Quest COVID-19
test kits each week to Federally Qualified Health Centers (FQHCs)
in ten states or districts across the country.
"Testing is a critical part of containing the spread of
COVID-19, and preventing future outbreaks," said Michael F. Neidorff, Chairman, President and CEO
of Centene. "We need to ensure every community has access to
the testing they need, especially the most vulnerable and
underserved populations."
This collaboration leverages Centene's extensive network of
critical safety net providers to ensure that testing capacity is
routed to where it is needed most. As part of the collaboration,
Centene will provide oversight and training to ensure test kits are
received and processed efficiently. Distribution of kits will begin
May 4th, and Quest Diagnostics will
conduct the COVID-19 testing through its network of laboratories
across the United States.
"COVID-19 testing is critically needed in underserved
communities and our collaboration with Centene will help ensure
that necessary and life-saving diagnostic testing is available to
address that need," said Steve
Rusckowski, Chairman, CEO and President of Quest
Diagnostics. "We are committed to serving the testing needs of
Federally Qualified Health Centers during the COVID-19
pandemic."
This initiative is part of a broader set of actions that Centene
is taking with key providers and stakeholders across the country to
support safety net providers in addressing the pandemic.
"Gaining access to COVID-19 tests has been a challenge," says
Dr. Michael W. Brooks, The Family
Health Centers of Georgia's
President & CEO. "This collaboration with Centene and Quest
ensures we can keep fighting to make sure people are not left
behind." The Family Health Centers of Georgia serves more than 29,000 patients
annually; 87% of whom are African American and 32% are
uninsured. Brooks continues, "We are pleased to be able to
offer these additional testing opportunities to our
communities."
About Centene Corporation
Centene Corporation, a Fortune 100 company, is a leading
multi-national healthcare enterprise that is committed to helping
people live healthier lives. The Company takes a local approach –
with local brands and local teams - to provide fully integrated,
high-quality, and cost-effective services to government-sponsored
and commercial healthcare programs, focusing on under-insured and
uninsured individuals. Centene offers affordable and high-quality
products to nearly 1 in 15 individuals across the nation, including
Medicaid and Medicare members (including Medicare Prescription Drug
Plans) as well as individuals and families served by the Health
Insurance Marketplace, the TRICARE program, and individuals in
correctional facilities. The Company also serves several
international markets, and contracts with other healthcare and
commercial organizations to provide a variety of specialty services
focused on treating the whole person. Centene focuses on long-term
growth and the development of its people, systems and capabilities
so that it can better serve its members, providers, local
communities, and government partners.
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.
About Quest Diagnostics
Quest Diagnostics empowers people to take action to improve
health outcomes. Derived from the world's largest database of
clinical lab results, our diagnostic insights reveal new avenues to
identify and treat disease, inspire healthy behaviors and improve
health care management. Quest annually serves one in three
adult Americans and half the physicians and hospitals in
the United States, and our 47,000
employees understand that, in the right hands and with the right
context, our diagnostic insights can inspire actions that transform
lives. www.QuestDiagnostics.com.
About COVID-19 Testing by Quest Diagnostics
Quest Diagnostics is at the forefront of response to the
COVID-19 pandemic, working to broaden access to laboratory insights
to help us all lead healthier lives. We provide both molecular
diagnostic and antibody serology tests to aiding the diagnosis of
COVID-19 and immune response. Our COVID-19 test services are based
on tests that have received or are expected to receive FDA
emergency use authorization and which also meet our high standards
for quality. We provide data on COVID-19 testing to various federal
and state public health authorities, including the Centers for
Disease Control and Prevention, and participate in studies with
government and private institutions, aiding COVID-19 public health
response and research. Through our team of dedicated phlebotomists,
couriers, air fleet team, and laboratory professionals, Quest
Diagnostics won't stop until quality testing is broadly available
to patients and communities across the United States.
For more information about the latest developments with our
COVID-19 testing, visit:
newsroom.questdiagnostics.com/COVIDTestingUpdates
Forward-Looking Statements
All statements, other than statements of current or
historical fact, contained in this press release 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). Centene (the Company, our, or we) intends such
forward-looking statements to be covered by the safe-harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995, and we are including this
statement for purposes of complying with these safe-harbor
provisions. In particular, these statements include, without
limitation, statements about our future operating or financial
performance, market opportunity, growth strategy, competition,
expected activities in completed and future acquisitions, including
statements about the impact of our recently completed acquisition
(the WellCare Acquisition) of WellCare Health Plans, Inc.
(WellCare), other recent and future acquisitions, investments and
the adequacy of our available cash resources. These forward-looking
statements reflect our current views with respect to future events
and are based on numerous assumptions and assessments made by us in
light of our experience and perception of historical trends,
current conditions, business strategies, operating environments,
future developments and other factors we believe 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 our or our 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 press
release are based on information available to us on the date
hereof. Except as may be otherwise required by law, we undertake no
obligation to update or revise the forward-looking statements
included in this press release, whether as a result of new
information, future events or otherwise, after the date hereof. 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 impact of COVID-19 on global markets, economic conditions
and the healthcare industry and our results of operations, which is
unknown, uncertainty as to our expected financial performance
following completion of the WellCare Acquisition; the possibility
that the expected synergies and value creation from the WellCare
Acquisition will not be realized, or will not be realized within
the expected time period; the risk that unexpected costs will be
incurred in connection with the integration of the WellCare
Acquisition or that the integration of WellCare will be more
difficult or time consuming than expected; unexpected costs,
charges or expenses resulting from the WellCare Acquisition; the
inability to retain key personnel; disruption from the completion
of the WellCare Acquisition, including potential adverse reactions
or changes to business relationships with customers, employees,
suppliers or regulators, making it more difficult to maintain
business and operational relationships; the risk that, following
the WellCare Acquisition, we may not be able to effectively manage
our expanded operations; our ability to accurately predict and
effectively manage health benefits and other operating expenses and
reserves; competition; membership and revenue declines or
unexpected trends; changes in healthcare practices, new
technologies, and advances in medicine; increased healthcare costs;
changes in economic, political or market conditions; 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 in "Texas v. United
States of America" regarding the constitutionality of the
ACA; rate cuts or other payment reductions or delays by
governmental payors and other risks and uncertainties affecting our
government businesses; our ability to adequately price products on
the Health Insurance Marketplaces and other commercial and Medicare
products; tax matters; disasters or major epidemics; the outcome of
legal and regulatory proceedings; changes in expected contract
start dates; provider, state, federal and other contract changes
and timing of regulatory approval of contracts; the expiration,
suspension, or termination of our contracts with federal or state
governments (including but not limited to Medicaid, Medicare,
TRICARE or other customers); the difficulty of predicting the
timing or outcome of pending or future litigation or government
investigations; challenges to our contract awards; cyber-attacks or
other privacy or data security incidents;the possibility that the
expected synergies and value creation from acquired businesses,
including, without limitation, the WellCare Acquisition, will not
be realized, or will not be realized within the expected time
period; the exertion of management's time and our 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; disruption caused by significant completed and
pending acquisitions, including, among others, the WellCare
Acquisition, making it more difficult to maintain business and
operational relationships; the risk that unexpected costs will be
incurred in connection with the completion and/or integration of
acquisition transactions; changes in expected closing dates,
estimated purchase price and accretion for acquisitions; the risk
that acquired businesses, including WellCare, will not be
integrated successfully; the risk that we may not be able to
effectively manage our operations as they have expanded as a result
of the WellCare Acquisition; restrictions and limitations in
connection with our indebtedness; our ability to maintain or
achieve improvement in 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; availability of debt and equity financing, on terms
that are favorable to us; inflation; foreign currency fluctuations;
and risks and uncertainties discussed in the reports that Centene
has filed with the Securities and Exchange Commission. 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 our business operations, financial
condition and results of operations, in our filings with the
Securities and Exchange Commission (SEC), including our 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, we
cannot give assurances with respect to our future performance,
including without limitation our ability to maintain adequate
premium levels or our ability to control our future medical and
selling, general and administrative costs.
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SOURCE Centene Corporation