Centene expects fiscal 2016 revenues to be up 84% on Health Net merger

By Lisa Kerner

Charlotte, N.C., Dec. 18 – Centene Corp. expects its fiscal 2016 revenues to be in the range of $41.2 billion to $42 billion, an 84% increase from the comparable 2015 amount, said senior vice president Jeff Schwaneke during a conference call on Friday.

The increase is attributed to the inclusion of Health Net, Inc. for 11 months, assuming the transaction closes on Feb. 1. The transaction remains subject to regulatory approvals.

Also for its 2016 fiscal year, Centene expects GAAP earnings per diluted share of about $2.85 to $3.15 and adjusted earnings per diluted share of about $4.10 to $4.40.

Schwaneke said these amounts also include Health Net and related merger synergies.

St. Louis-based Centene is a diversified, multi-national health-care enterprise that provides services to government-sponsored health-care programs focusing on underinsured and uninsured individuals.

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