Centene Notified by State of Kansas Regarding Selection of New Medicaid Providers.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 FirstGuard Health Plan Kansas, Inc., its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , has received notification from the Kansas Health Policy Authority that its contract will end December 31, 2006. Michael F. Neidorff, Chairman and Chief Executive Officer of Centene, stated, "We are deeply disappointed by this decision given our long-standing involvement and tenure in the State of Kansas. We are currently reviewing the notification received from the state and are evaluating all options available to us under the appeal process. We will provide more details as they become available." FirstGuard accounted for $240 million of Centene's 2005 revenue. For the first 6 months of 2006, FirstGuard contributed $111 million to revenue and had 117,100 members. 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 Georgia, 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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