Forbes February 4, 2020
Health insurer Centene said the addition of WellCare Health Plans means the company now serves “1 in every 15 Americans” as a national provider of government-sponsored healthcare including Obamacare.
Centene added 1.1 million health plan members last year, growing by 8% and helping revenue jump 14% to $18.9 billion at the end of the fourth quarter from $16.6 billion in fourth quarter of 2018. Fourth quarter net income was $209 million.
“We’re now a $100 billion-plus enterprise,” Centene chief executive Michael Neidorff said Tuesday morning during an 80-minute conference call to discuss fourth quarter 2019 earnings. Centene completed its acquisition of WellCare less than a month ago and the deal cleared regulatory hurdles and closed ahead of schedule.
Centene bought...
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