JPMorgan Downgrades Centene to Neutral From Overweight, Adjusts Price Target to $90 Fro.. Analyst recommendations: BP, Centene, Experian, Intel, Walgreens.. CENTENE CORP Management's Discussion and Analysis of Financial Condition and Results 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:our ability to accurately predict and effectively manage health benefits and other operating expenses and reserves, including fluctuations in medical utilization rates due to the impact of COVID-19; the risk that the election of new directors, changes in senior management and inability to retain key personnel may create uncertainty or negatively impact our ability to execute quickly and effectively;uncertainty as to the expected financial performance of the combined company following the recent completion of the Magellan Acquisition; the possibility that the expected synergies and value creation from the Magellan Acquisition or the WellCare Acquisition (or other acquired businesses) will not be realized, or will not be realized within the respective expected time periods; the risk that unexpected costs will be incurred in connection with the integration of the Magellan Acquisition or that the integration of Magellan Health will be more difficult or time consuming than expected, or similar risks from other acquisitions we may announce or complete from time to time; disruption from the integration of the Magellan Acquisition or from the integration of the WellCare Acquisition, or similar risks from other acquisitions we may announce or complete from time to time, 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; a downgrade of the credit rating of our indebtedness; 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 ACA) and any regulations enacted thereunder that may result from changing political conditions, the new administration or judicial actions; 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; tax matters; disasters or major epidemics; changes in expected contract start dates; provider, state, federal, foreign 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 legal or regulatory proceedings or matters, including, but not limited to, our ability to resolve claims and/or allegations made by states with regard to past practices, including at Envolve Pharmacy Solutions, Inc. (Envolve), as our pharmacy benefits manager (PBM) subsidiary, within the reserve estimate we have recorded and on other acceptable terms, or at all, or whether additional claims, reviews or investigations relating to our PBM business will be brought by states, the federal government or shareholder litigants, or government investigations; timing and extent of benefits from strategic value creation initiatives, including the possibility that these initiatives will not be successful, or will not be realized within the expected time periods; challenges to our contract awards; cyber-attacks or other privacy or data security incidents; 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; changes in expected closing dates, estimated purchase price and accretion for acquisitions; the risk that acquired businesses will not be integrated successfully;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. Her strategic thinking, fresh perspective and diverse experience make her the natural leader to harness the potential of Centene," Centenes Acting Chairman, James Dallas said in a statement. Ms. London previously served as Vice President of Client Services & Operations with Humedica, a venture-backed healthcare data and analytics company acquired by Optum in 2013. Centenes large size and central role in behavioral care management mean that it could affect what retirement planning clients Medicare plans look like, what the plans will cost, and how both working-age and older clients plans cover mental health care, behavioral health care and other types of care. 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. All forward-looking statements included in this press release are based on information available to us on the date hereof. Insiders trading at Centene Over the last 19 years, insiders at Centene have traded over $220,031,916 worth of Centene stock and bought 89,005 units worth $5,026,837 . Centenes mission to transform the health of our communities one member at a time has never been more relevant, London said in a statement. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. Mr. Neidorff remains on a previously announced medical leave of absence from his position on the Board of the Company. U.S. health insurer Centene Corp on Tuesday named Vice Chairman Sarah London as its new chief executive officer, replacing Michael Neidorff, who is on medical leave. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. While at Optum Ventures, she oversaw investments in companies such as IDx, a startup that uses artificial intelligence to detect diabetic retinopathy, and Apervita, a health care quality data company. 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. Executive Compensation Data Year: Trend Analysis As at CENTENE CORP, made $0 in total compensation. Learn about Centene MISSING VALUE office. But how CEO Sarah London decides to move the company. Sarah London. Clayton-based Centene Corp. has appointed its vice board chair Sarah London as its new CEO. Financial and other information about Centene is routinely posted and is accessible on Centene's investor relations website, https://investors.centene.com/. Senior Planner, Global Meetings & Events. As the Uvalde community recovers from a tragic shooting, Superior HealthPlan is developing a new community center to serve as a resource for the region. This is the Centene company profile. Forward-Looking StatementsAll statements, other than statements of current or historical fact, contained in this press release are forward-looking statements. In a March 31 regulatory filing, Centene said its board of directors had approved a compensation package for new CEO Sarah London with an annual base salary of $1.4 million and a cash. Big Jumps In Diversity Fuel Surge In U.S. Tennis Participation Since 2020, Walgreens-Backed VillageMD Buys 30-Location Physician Group In Connecticut, Banning Abortion Pill Mifepristone Would Set A Dangerous Precedent For The Politicization Of Public Health, Ukraine Wars Toll Of Death, Destruction, Displacement, And Trauma: Fresh Evidence Of Systematic Planning Of Torture Leaves Behind An Indelible Mark, Walmart To Double Health Clinic Footprint As Amazon And Rivals Buy Doctor Offices, Covid-19s Enormous Death Toll: Worldwide Life Expectancy Has Experienced A Steep Decline, Questions Scientists Should Now Explore With Respect To Covid-19, Sustainable Development A Smart Solution for Africa and the Middle East, And less than a month ago, Centene said Neidorff. The board of Centene has picked Sarah London an executive with roots in venture capital and talent management to succeed Michael Neidorff as the companys CEO. Get ready to start hearing the name "Centene" a lot more around Charlotte. The salaries that employees earn in Centene can be influenced by the department or organization function that they work in. Chief Operating Officer. Previously, she served as Chief Product Officer for Optum Analytics and Vice President of Client Services & Operations at Humedica. $110k $170k $233k $375k Between June 2021 and January 2022, Centene agreed to settlements with several states on behalf of their subsidiary, Envolve, a pharmacy benefit manager, including Ohio, Mississippi, Illinois, Arkansas, and New Hampshire to resolve allegations of overpayments to the PBM from the states' Medicaid programs. Sarah London CEO, Centene Tweet More As Centene's first woman CEO, London has been instrumental in helping the insurer boost earnings and grow its core lines of business. Ms. London received an M.B.A. with High Honors from the University of Chicago Booth School of Business and a B.A. "The healthcare landscape is rapidly changing, and Centene's mission to transform the health of our communities one member at a time has never been more relevant. "I also want to thank Michael Neidorff, Centene's visionary leader for more than 25 years. Author of the article: Reuters . Over the last 19 years, insiders at Centene have traded over $220,031,916 worth of Centene stock and bought 89,005 units worth $5,026,837 Centene, which sells an array of government subsidized health insurance including Obamacare, has been working for much of this year on a permanent successor to Neidorff, who in December announced his plan to retire later this year.London takes over a company that is a national player among the biggest . There are 29 older and 1 younger executives at Centene. Prior to her appointment as CEO, Ms. London served as Vice Chairman of the Centene Board of Directors. Prior to being appointed CEO in 2022, she served as Centenes Vice Chairman, responsible for strategy, technology, pharmacy services, enterprise compliance and quality, as well as for Centenes portfolio of independent, non-health plan companies. Based on our analysis, the employees in engineering earn salaries at Centene that are well above average, with yearly earnings averaging $97,613. January 12, 2022, 8:01 AM Sarah London, Vice Chairman of Centene, joins Yahoo Finance Live to talk about Centene's health care initiatives, CMS changes, and how they are handling COVID-19. Centene Salaries trends. ST. LOUIS, March 22, 2022 /PRNewswire/ -- Centene Corporation (NYSE: CNC) announced today that Sarah London, Vice Chairman of Centene, has been appointed Chief Executive Officer, effective . . Forward-Looking StatementsAll statements, other than statements of current or historical fact, contained in this press release are forward-looking statements. ", Drew Asher, Centene's Chief Financial Officer, said, "Sarah brings a modern vision to the helm of one of this country's most important healthcare companies. Your article was successfully shared with the contacts you provided. Schwaneke will report to Sarah London, President, Health Care Enterprises and Executive Vice President, Advanced Technology, HealthCare Enterprises. It has $125 billion in annual revenue, and it ranks 26th in the United States in terms of revenue. Since Mr. Neidorff began a medical leave of absence in February 2022, she has been a member of the Office of the Chairman charged with running the day-to-day management of the Company. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Centene Corporation, a Fortune 25 company, is a leading healthcare enterprise that is committed to helping people live healthier lives. President. . The average Centene salary ranges from approximately $36,879 per year for Senior Customer Service Representative to $172,832 per year for Vice President of Compliance. Neidorff, who is 79 years old and has been Centenes CEO since 1996, also took on a new role as executive chairman until the end of 2022, the company announced in December. Since her appointment to lead the company in 2022, she has focused on developing a culture of transformation, implementing artificial intelligence and machine learning solutions to better improve health and quality of life for Centenes members. This list of important factors is not intended to be exhaustive. Presently, Sarah London is President-Health Care Enterprises at Centene Corp. Magna Cum Laude in History & Literature from Harvard College, where she played Division I tennis. from 8 AM - 9 PM ET. 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. "The healthcare landscape is rapidly changing, and Centene's mission to transform the health of our communities one member at a time has never been more relevant, London added. The Board and I are confident that she is the right visionary leader to increase value for our shareholders and author the next chapter of Centene's growth. Share & Print. Glassdoor. Centene Centene has promoted Sarah London, the health insurance company's current board vice chair, to the job as Chief Executive Officer, succeeding the retiring Michael Neidorff, the. Sarah London 67% approve of Sarah London's performance Founded 1984 Company size more than 10,000 Revenue more than $10B (USD) Industry Healthcare Insurance Headquarters 7700 Forsyth Blvd. UnitedHealths Optum unit acquired Humedica in 2013. Since then, the company has become a major force in the commercial health insurance market by acquiring Health Net, a California health insurer; WellCare Health Plans, a big Medicare plans issuer; and Magellan Health, a behavioral health, specialty care and pharmacy benefits manager. Net income dropped 26% to $1.3 billion. The most active insiders traders include Michael F Neidorff, Frederick H Eppinger, and Edward L Cahill. Under Neidorff, Centene has grown into a national healthcare giant with revenues that eclipsed $126 billion in 2021 as more Americans sign up for Medicaid, the health insurance for low income patients it manages via contracts with states and individual coverage under the ACA known as Obamacare hits record levels. 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: our ability to accurately predict and effectively manage health benefits and other operating expenses and reserves, including fluctuations in medical utilization rates due to the impact of COVID-19; the risk that the election of new directors, changes in senior management and inability to retain key personnel may create uncertainty or negatively impact our ability to execute quickly and effectively; uncertainty as to the expected financial performance of the combined company following the recent completion of the Magellan Acquisition; the possibility that the expected synergies and value creation from the Magellan Acquisition or the WellCare Acquisition (or other acquired businesses) will not be realized, or will not be realized within the respective expected time periods; the risk that unexpected costs will be incurred in connection with the integration of the Magellan Acquisition or that the integration of Magellan Health will be more difficult or time consuming than expected, or similar risks from other acquisitions we may announce or complete from time to time; disruption from the integration of the Magellan Acquisition or from the integration of the WellCare Acquisition, or similar risks from other acquisitions we may announce or complete from time to time, 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; a downgrade of the credit rating of our indebtedness; 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 ACA) and any regulations enacted thereunder that may result from changing political conditions, the new administration or judicial actions; 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; tax matters; disasters or major epidemics; changes in expected contract start dates; provider, state, federal, foreign 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 legal or regulatory proceedings or matters, including, but not limited to, our ability to resolve claims and/or allegations made by states with regard to past practices, including at Envolve Pharmacy Solutions, Inc. (Envolve), as our pharmacy benefits manager (PBM) subsidiary, within the reserve estimate we have recorded and on other acceptable terms, or at all, or whether additional claims, reviews or investigations relating to our PBM business will be brought by states, the federal government or shareholder litigants, or government investigations; timing and extent of benefits from strategic value creation initiatives, including the possibility that these initiatives will not be successful, or will not be realized within the expected time periods; challenges to our contract awards; cyber-attacks or other privacy or data security incidents; 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; changes in expected closing dates, estimated purchase price and accretion for acquisitions; the risk that acquired businesses will not be integrated successfully; 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. The most recent stock trade was executed by Andrew Lynn Asher on 9 February 2023, trading 6,800 units of CNC stock currently worth $489,124. We have a unique opportunity to empower our members, providers, and their communities in this transformation. Financial and other information about Centene is routinely posted and is accessible on Centene's investor relations website, https://investors.centene.com/. Dont forget you can visit MyAlerts to manage your alerts at any time. Centene uses its investor relations website to publish important information about the Company, including information that may be deemed material to investors. Prior to joining Humedica, Ms. London was part of the team that launched Accretive Health's Quality & Total Cost of Care business, providing end-to-end population health strategy and operational consulting to leading medical centers around the country. Object Shot Down Over Canada in Escalating Aerial Drama. Prior to her appointment as CEO, Ms. London served as Vice Chairman of the Company, and . [40] The board of Centene has picked Sarah London an executive with roots in venture capital and talent. Dec 5, 2022. CENTENE IS COMMITTED TO CORPORATE SUSTAINABILITY . 5.0 . She served next as a partner at Optum Ventures. 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. ", Drew Asher, Centene's Chief Financial Officer, said, "Sarah brings a modern vision to the helm of one of this country's most important healthcare companies. I write about healthcare business and policy. And adjusted. Ms. London has spent her career at the forefront of innovation in healthcare. A copy of the press release announcing the events described in Item 5.02 above Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. The Board and I are confident that she is the right visionary leader to increase value for our shareholders and author the next chapter of Centene's growth. Mizuho Securities Adjusts Centene Price Target to $80 From $92, Maintains Neutral Ratin.. North American Morning Briefing: Stock Futures -3-, Centene Addresses Social Isolation in Schools with National No One Eats Alone Day. ST. LOUIS, March 22, 2022 /PRNewswire/ -- Centene Corporation (NYSE: CNC) announced today that Sarah London, Vice Chairman of Centene, has been appointed Chief Executive Officer, effective immediately, succeeding Michael Neidorff. Effective September 7, 2021, the Board of Directors (the "Board") of Centene Corporation (the "Company") elected Sarah M. London as Vice Chairman of the Board of Directors of Centene Corporation and Brent D. Layton as the Company's President and Chief Operating Officer. Her strategic thinking, fresh perspective and diverse experience make her the natural leader to harness the potential of Centene," said James Dallas, Acting Chairman of Centene. ", This is a BETA experience. Cision Distribution 888-776-0942 Sarah's mailing address filed with the SEC is 7700, Forsyth Boulevard, Clayton, Saint Louis County, Missouri, 63105, United States. In her management role, Ms. London led the Company's technology and digital strategy in addition to running the Health Care Enterprises and Specialty divisions, Corporate Strategy, Quality Operations, Internal Audit, Compliance and Risk Management. Prior to her appointment as CEO, Ms. London served as Vice Chairman of the Company, and in her management role was responsible for a portfolio of companies independent of Centene's health plans, designing differentiated platform capabilities, and delivering industry-leading products and services to third-party customers. Centene Corporation, a Fortune 25 company, is a leading healthcare enterprise that is committed to helping people live healthier lives.
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