Health insurer Centene and St. Louis-based Ascension agreed to pursue a joint venture to create a Medicare Advantage plan.
Both parties will now explore the joint venture, which would establish a Medicare Advantage plan for Centene and Ascension systems and affiliates in multiple geographic markets. Coverage would start in 2020.
"We are pleased to pursue this joint venture with Ascension to create a differentiating offering for Medicare Advantage across multiple markets," said Michael Neidorff, chairman and CEO of Centene, in a prepared statement. "This joint venture will bring together two leaders with decades of experience across markets and creates an opportunity for scaled payer-provider collaboration."
Anthony Tersigni, EdD, president and CEO of Ascension, expressed similar sentiments, saying the collaboration "aligns with our mission of serving those who are vulnerable and struggling the most, which all too often includes our seniors."
The proposed venture is subject to various conditions, including due diligence, the negotiation of definitive terms and approval by Ascension and Centene boards.
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