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Centene To Buy Community Medical Holdings

Centene Corp. (CNC) said that it agreed to acquire Community Medical Holdings Corp., dba Community Medical Group or "CMG", a leading, at-risk primary care provider, serving over 70,000 Medicaid, Medicare Advantage, and Health Insurance Marketplace program patients in Miami-Dade County, Florida.

As per the terms of the purchase agreement, Centene has the ability to fund the purchase with cash, or alternatively, a combination of cash and Centene stock. The transaction is expected to have a neutral impact to GAAP and adjusted EPS in 2018 and to be slightly accretive (low single digits) to GAAP and adjusted EPS in 2019.

The transaction is expected to close in the first quarter of 2018, subject to the expiration or termination of the applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and other customary closing conditions.

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