Centene Corporation Announces Agreement to Complete New Jersey Sale Transaction
Centene Corporation announced that an agreement has been reached between University Health Plans, Inc. (“UHP”) and Amerigroup New Jersey, Inc. (“Amerigroup”), resolving the litigation regarding the sale of certain UHP assets to Amerigroup. Under the settlement agreement, the parties will move forward with the transaction, which is subject to regulatory approval and expected to be completed during the first quarter of 2010. In conjunction with the agreement, the parties have released the claims associated with the litigation.
Centene Corporation is a leading multi-line healthcare enterprise that provides programs and related services to individuals receiving benefits under Medicaid, including the State Children’s Health Insurance Program (SCHIP), as well as Aged, Blind, or Disabled (ABD), Foster Care, Long-Term Care and Medicare (Special Needs Plans). The Company operates local health plans and offers a range of healthcare solutions for the rising number of uninsured Americans. It contracts with other healthcare and commercial organizations to provide specialty services including behavioral health, life and health management, managed vision, nurse triage, pharmacy benefits management and treatment compliance. Information regarding Centene is available via the Internet at www.centene.com.