Centene to pick up Florida primary care group: 5 things to know

Listen
Text
  • Small
  • Medium
  • Large

Centene Corp. signed a definitive agreement to buy Community Medical Group, an at-risk primary care provider serving 70,000 government-insured beneficiaries in Florida.

Here are five things to know about the deal.

1. Community Medical Group physicians treat patients in Florida's Miami-Dade County with Medicaid, Medicare Advantage and ACA marketplace health plans.

2. Michael F. Neidorff, chairman and CEO of Centene, said, "The addition of CMG will provide Centene with a differentiated care delivery asset that shares our focus and commitment to government-sponsored programs and creates a foundation for future growth." Centene added the "acquisition provides a platform for expansion of the model across Florida and potentially into other states."

3. Centene plans to fund the deal with cash or a combination of cash and Centene stock. Financial details of the acquisition were not disclosed.

4. The transaction is expected to close in the first quarter of 2018.

5. The deal comes about a week after Centene signed a definitive agreement to acquire MHM Services Feb. 26. MHM provides healthcare and staffing services to correctional systems, state hospitals, courts, juvenile facilities and community clinics nationwide.

Copyright © 2021 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars