Centene Company will promote sure Spanish and European healthcare companies as U.S. well being … [+]
Centene will promote sure Spanish and European healthcare companies as the corporate continues to evaluate “strategic options for its worldwide portfolio,” the health insurer said Monday.
The announcement, which comes forward of its second quarter earnings launch Tuesday, stated property to be offered embrace: the hospital operator Ribera Salud; Torrejón Salud, a public-private partnership within the Group of Madrid which is operated by Ribera Salud; and Professional Diagnostics Group, a subsidiary of Ribera Salud, which owns clinics offering radiology and different providers in Slovakia and the Czech Republic, Centene stated. A sale value was not disclosed in the announcement.
The deal comes as the corporate has bolstered its U.S. medical insurance choices with Magellan Well being, which sells and manages behavioral well being providers. Centene stated the corporate plans to “use nearly all of the web proceeds from the sale to repurchase inventory and the steadiness to scale back debt.”
“This transaction represents one other important milestone in our worth creation plan and ongoing portfolio evaluate,” Centene chief government officer Sarah London stated. “We’re happy to have discovered a number one European healthcare associate in Vivalto Santé, who we imagine is greatest positioned to drive progress and make extra investments in Ribera Salud, Torrejón, and PDG, to allow them to proceed offering high-quality look after sufferers throughout Europe.”
Centene stated the deal is “anticipated to be impartial to Centene’s adjusted diluted earnings per share within the 12-month interval post-closing.”
