A multi-line healthcare enterprise that provides Medicaid and Medicaid-related programs to organizations and individuals through government subsidized programs, including Medicaid, Supplemental Security Income & State Children's Health Insurance Program.
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It seems that Centene has some special connection with Texas, as is evident by number of programs being initiated by CNC in that region only. The company not only won a contract to provide manage care for SSI recipients in San Antonio and Corpus Christi markets, but also has received a contract of the Texas Comprehensive Health Care for Foster care.
The company received a boost with the recent acquisition of PhyTrust of South Carolina which happens to be the state’s second largest Medicaid operator. With this acquisition, the company is geared up to capitalize on a total of 0.65 million eligible recipients in the South Carolina marketplace.
During the first quarter of 2007, the sales of the company increased 47.4% to $670.8 million. In the future the company’s capability to track members and provide them with a more consistent quality of healthcare will help in attracting more states. For the coming second quarter, investors can expect net earnings of $0.25 to $0.28 per diluted share from revenues which are estimated to be in the range of 720 million to 730 million.
Healthcare industry is expected to perform well coupled with a scenario where Medicare health insurance program comes as a boon to the aging US population. Fueled by the positive outlook of the industry, Centene Corp is expected to boost the investors’ confidence positively.