Centene To Acquire Community Medical Group To Expand Its Provider Assets
"The addition of CMG will provide
"We are pleased about the opportunity to become part of the
Strategic Benefits of the Transaction
- CMG is the leading at-risk provider in
Miami-Dade County with a unique focus on providing clinical and social care to Medicaid, Medicare Advantage andHealth Insurance Marketplace recipients. - The acquisition increases
Centene's scale and capabilities, adding a premier Medicaid-focused provider group toCentene's existing in home primary care and correctional care assets, with a demonstrated ability to generate medical cost savings. - CMG brings an experienced management and clinical team, passionate about the delivery of care to the underserved population.
- CMG also has a strong network of health plan clients and
Centene is committed to a multi-payor strategy. - The acquisition provides a platform for expansion of the model across
Florida and potentially into other states.
Financing and Approvals
Under the terms of the purchase agreement,
The transaction is expected to close in the first quarter of 2018, subject to the expiration or termination of the applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and other customary closing conditions.
About
Forward-Looking Statements
The company and its representatives may from time to time make written and oral forward-looking statements within the meaning of the Private Securities Litigation Reform Act ("PSLRA") of 1995, including statements in this and other press releases, in presentations, filings with the
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