Centene Corporation Closes Acquisition Of US Script, Inc.

ST. LOUIS -- Centene Corporation (NYSE NYSE

See: New York Stock Exchange : CNC (Computerized Numerical Control) See numerical control.

CNC - Collaborative Networked Communication ) today announced that it has closed its acquisition of US Script, Inc., a privately held pharmacy benefits manager (PBM PBM - play by mail. See play by electronic mail. ) headquartered in Fresno, California. The transaction is effective as of January 1, 2006.

Centene paid approximately $40 million in cash at closing. The transaction was funded through a combination of free cash and borrowings under Centene's $200 million credit facility.

Michael F. Neidorff, Centene's chairman and chief executive officer, stated, "We are pleased to close this acquisition and expand our specialty company operations into pharmacy management. Throughout 2006, we will continue to focus on growing our pharmacy benefit services to third party clients while internalizing the pharmacy spend and maximizing cost savings for our existing health plans."

About Centene Corporation

Centene Corporation provides multi-line managed care programs and related services to individuals receiving benefits under Medicaid, including Supplemental Security Income Supplemental Security Income

A Social Security program established to help the blind, disabled, and poor. (SSI) and the State Children's Health Insurance Program (SCHIP SCHIP State Children's Health Insurance Program ). The Company operates health plans in Indiana, Kansas, Missouri, New Jersey, Ohio, Texas and Wisconsin. In addition, the Company contracts with other healthcare organizations to provide specialty services including behavioral health, disease management, nurse triage, pharmacy benefit management A Pharmacy Benefit Manager (PBM) is a third party administrator of prescription drug programs. They are primarily responsible for processing and paying prescription drug claims. and treatment compliance. Information regarding Centene is available via the Internet at www.centene.com.

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Publication:	Business Wire
Geographic Code:	1USA
Date:	Jan 4, 2006
Words:	207
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Topics:	Health insurance industry Mergers, acquisitions and divestments

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