Centene revenue climbs to $14.2B

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Health insurer Centene saw revenues grow 19 percent to $14.2 billion in the second quarter of fiscal year 2018, up from $12 billion reported in the same period a year prior.

Centene said the increase in revenues reflects growth in its health insurance marketplace business, acquisitions, expansions and new programs rolled out in 2017 and 2018. Centene acquired Fidelis Care for $3.75 billion in July.

As of June 30, Centene's managed care membership totaled 12.8 million. That's up 5 percent, or 584,700 members, from the second quarter of 2017.

While Centene saw total operating expenses increase 19 percent to $13.7 billion, the health insurer ended the second quarter of this year with net income of $300 million. That's up from $254 million during the same period a year prior.

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