St. Louis, Mo.-based health insurer Centene has released its financial results for the first quarter ended March 31.
Centene reported a net loss of $17 million — or 14 cents per share — for the quarter, according to Reuters. For the first quarter of 2015, Centene had a profit of $63 million, or 51 cents per share.
In addition, Centene's revenue increased 35.5 percent, from $5.13 billion in Q1 of 2015 to $6.95 billion for Q1 of this year.
Centene's higher revenue is attributed to its acquisition of Woodland Hills, Calif.-based Health Net. Acquisition-related expenses were also cause for its large net loss.