July 14, 2022 — Centene Corporation (NYSE: CNC) announced today it has successfully completed the previously announced divestiture of its pharmacy business PANTHERx to the Vistria Group, General Atlantic, and Nautic Partners.
“We are pleased to close this transaction, which represents another key milestone in our value creation plan and enables us to continue focusing on our core business,” said Sarah London, CEO of Centene.
Centene acquired PANTHERx in December 2020. Centene intends to use the majority of the net proceeds from the sale to repurchase stock and the balance to reduce debt.
About Centene Corporation
Centene Corporation, a Fortune 500 company, is a leading healthcare enterprise that is committed to helping people live healthier lives. The Company takes a local approach – with local brands and local teams – to provide fully integrated, high-quality, and cost-effective services to government-sponsored and commercial healthcare programs, focusing on under-insured and uninsured individuals. Centene offers affordable and high-quality products to nearly 1 in 15 individuals across the nation, including Medicaid and Medicare members (including Medicare Prescription Drug Plans) as well as individuals and families served by the Health Insurance Marketplace, the TRICARE program, and individuals in correctional facilities. The Company also serves several international markets, and contracts with other healthcare and commercial organizations to provide a variety of specialty services focused on treating the whole person. Centene focuses on long-term growth and value creation as well as the development of its people, systems, and capabilities so that it can better serve its members, providers, local communities, and government partners.
Centene uses its investor relations website to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Centene is routinely posted and is accessible on Centene’s investor relations website, https://investors.centene.com/.
