Centene faces Texas foster-care contract delay – St. Louis Business Journal:

The HHSC indicated that the prograk would likely beginin 2008. This statewide programj will provide managed-care services to participants in the Texas fostecare program. Michael Neidorff, chairmabn and CEO of Centene, said in a statement, "Our subsidiary, Superior HealthPlan Network, is pleased to partne r with Texas on thisimportant initiative. We are anxioua to get this program underway given our continue focus on positively impacting the special health needs ofthese children." As of Marc 31, Superior Network served 77,396 recipients unde r the Texas Children's Healtb Insurance Plan and was set to begin managing care undedr this new contract Oct. 1.
, Superior Network'se sister plan in Texas currentlyserves 235,013 recipients under the Texas Medicaid and CHIP Program, according to a If the program delay is implemented, J. Per Centene's senior vice president and chieffinancialp officer, said in a statement that the firm "wouldr not achieve the 3 to 4 cents of 2007 fourth quarter earnings accretion previously expected. We are havinfg discussions with the state to determine when they will most realisticallyy be readyfor implementation, whichh will enable us to properly estimate the impacf this has on our start-up costs." St.
Louis-based Centene (NYSE: CNC) provides managed-care programs and related servicess to individualsunder Medicaid. It also operatess health plansin Georgia, Indiana, New Jersey, Texas and Wisconsin.
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