Centene to use existing facility for Celtic purchase

By Sara Rosenberg

New York, March 18 - Centene Corp. plans to use borrowings under its existing credit facility to fund the $80 million acquisition of Celtic Group Inc., according to a news release.

The transaction is expected to close in the third quarter, subject to regulatory approval.

Centene is a St. Louis-based multi-line health care enterprise that provides programs and related services to individuals receiving benefits under Medicaid. Celtic is a Chicago-based health insurance carrier.

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