Centene's Subsidiary Awarded TRICARE West Region Contract
ST. LOUIS, July 21, 2016 /PRNewswire/ -- Centene Corporation (NYSE: CNC) announced today that the Department of Defense intends to award its wholly-owned subsidiary, Health Net Federal Services, LLC (HNFS), the TRICARE West Region Contract. Health Net Federal Services currently is the managed care contractor for the TRICARE North Region. The TRICARE West Region contract includes a base period with additional five one-year option periods. We currently expect the start of healthcare delivery to commence sometime mid-year of 2017.
"We are honored to continue providing healthcare services and programs to United States Armed Forces military personnel, retirees and their dependents," said Michael F. Neidorff, Chairman, President and CEO for Centene. "As a healthcare enterprise founded on the belief that every individual deserves access to quality healthcare with dignity, we take our commitment to our nation's Armed Forces military personnel very seriously. Centene is committed to drawing on our national expertise and local approach to deliver innovative, high-quality care to service members throughout the West region."
The TRICARE West Region Contract will be comprised of serving 2.9 million of eligible beneficiaries in 19 states and regions. These are: Alaska, Arizona, California, Colorado, Hawaii, Idaho, Kansas, Minnesota, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oregon, South Dakota, Utah, Washington, Wyoming, and portions of Iowa, Missouri and Texas.
"Since 1988, Health Net Federal Services has been proud to partner with the Department of Defense, supplementing the care they provide to active duty and retired military personnel and their families," said Billy Maynard, President and CEO of Health Net Federal Services. He added, "We are honored and humbled to be awarded the TRICARE West Region Contract to serve this extraordinary population of beneficiaries, as well as supplement and extend the healthcare mission of the Department of Defense."
In accordance with the Department of Defense's procurement process, HNFS will request a debriefing about the award and then await further direction from the contracting office as to the timeline and process for moving forward.
About Centene Corporation
Centene Corporation, a Fortune 500 company, is a diversified, multi-national healthcare enterprise that provides a portfolio of services to government sponsored 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 Care (LTC), in addition to other state-sponsored programs, Medicare (including the Medicare prescription drug benefit commonly known as "Part D"), as well as programs with the U.S. Department of Defense and U.S. Department of Veterans Affairs. 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, in-home health services, life and health management, managed vision, 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.
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SOURCE Centene Corporation
Released July 21, 2016