Centene - M&A Summary and Business Overview

InsuranceCompany

Centene M&A Summary

Centene has acquired 22 companies, including 7 in the last 5 years. A total of 5 acquisitions came from private equity firms. It has also divested 5 assets.

Centene’s largest acquisition to date was in 2019, when it acquired WellCare Health Plans for $17.3B. It’s largest disclosed sale occurred in 2022, when it sold Magellan Rx Management to Prime Therapeutics for $1.4B. Centene has acquired in 13 different US states, and 3 countries. The Company’s most targeted sectors include healthcare services (67%) and insurance (24%).

Centene Business Overview

Where is Centene headquartered?

Centene is headquartered in St. Louis, Missouri.

What is Centene’s revenue?

Centene disclosed revenue of 125,982M USD for 2021 and 111,115M USD for 2020.

How many employees does Centene have?

Centene has 74,300 employees.

What sector is Centene in?

Centene is an insurance company.

When was Centene founded?

Centene was founded in 1984.

M&A Summary

  • M&A Total Activity26
    • M&A Buy Activity21
    • M&A Sell Activity5
  • Total Sectors Invested 4
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 17
  • M&A Advisors 8

Centene

Centene Corp.

Centene Plaza 7700 Forsyth Boulevard,
St. Louis, Missouri 63105
United States,
(314) 725-4477
www.centene.com

Centene is a diversified, multi-national healthcare enterprise that provides programs and services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. Centene provides member-focused services through locally based staff by assisting in accessing care, coordinating referrals to related health and social services and addressing member concerns and questions. Centene also provides education and outreach programs to inform and assist members in accessing quality, appropriate healthcare services. Centene was incorporated in 1984 and is based in St. Louis, Missouri.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.8/yr) # 17 2 1 1 - - 21
vol $24.4B $2.2B $26.6B
Sell (1.0/yr) # - - - 4 1 - 5
vol $1.4B $1.2B $2.6B
  26

Most Recent M&A

Company Date Value Type
Circle Health Group Ltd. 2023-08-28 1.2B USD Divestiture
London, United Kingdom · www.circlehealthgroup.co.uk
Magellan Specialty Health 2022-11-17 - Divestiture
, United States
Centene - Spanish and Central European Businesses 2022-07-25 - Divestiture
, Spain
Pantherx Rare LLC 2022-05-05 - Divestiture
Pittsburgh, Pennsylvania · www.pantherxrare.com
Magellan Rx Management 2022-05-05 1.4B USD Divestiture
Phoenix, Arizona · www1.magellanrx.com
Magellan Specialty Health 2022-01-01 - Add-on Acquisition
, United States
Magellan Health, Inc. 2021-01-04 2.2B USD Add-on Acquisition
Phoenix, Arizona · www.magellanhealth.com
Pantherx Rare LLC 2020-12-15 - Add-on Acquisition
Pittsburgh, Pennsylvania · www.pantherxrare.com
Apixio, Inc. 2020-11-09 - Add-on Acquisition
San Mateo, California · www.apixio.com
Circle Health Group Ltd. 2019-06-01 - Stake Purchase
London, United Kingdom · www.circlehealthgroup.co.uk
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
U.S. Medical Management LLC 2013-12-12 Comfort Hospice 2022-08-29 2
Farmington Hills, Michigan · www.usmedicalmgmt.com St. Louis, Missouri · www.comforthospice.com
U.S. Medical Management LLC 2013-12-12 Grace Hospice 2022-08-29 1
Farmington Hills, Michigan · www.usmedicalmgmt.com Maumee, Ohio · www.comforthospice.com
IlliniCare Health Plan, Inc.    - IlliniCare Health Plan, Inc. - Medicaid and Medicare Advantage Business 2019-12-02 1
Westmont, Illinois · www.illinicare.com Westmont, Illinois
Sunshine State Health Plan, Inc.    - Citrus-Medicaid & Long-Term Care Assets 2010-12-01 1
Sunrise, Florida · www.sunshinestatehealth.com , United States
Absolute Total Care, Inc.    - Carolina Crescent Health Plan, Inc. 2010-06-01 1
Columbia, South Carolina · www.absolutetotalcare.com Columbia, South Carolina · www.carolinachp.com
CenCorp Health Solutions, Inc.    - OptiCare - Managed Vision Business 2006-07-13 2
St. Louis, Missouri · www.cencorphealthsolutions.com Rocky Mount, North Carolina
Buckeye Community Health Plan, Inc.    - MediPlan Corp. 2006-06-01 1
Columbus, Ohio · www.bchpohio.com Canton, Ohio

M&A by Sector

Sector Buy # Value Sell # Value
Healthcare Services 14 (67%) 2.4B (9%) 3 (60%) 1.2B (47%)
Insurance 5 (24%) 24.2B (91%) - -
Life Science 1 (5%) - 2 (40%) 1.4B (53%)
Information Technology 1 (5%) - - -
Total 21 $26.6B 5 $2.6B

By Geo

State/Country Buy Value Sell Value
United States 19 26.6B 3 1.4B
  Florida 3 17.3B - -
  California 3 6.9B - -
  Ohio 2 38M - -
  Michigan 2 - - -
  Arizona 1 2.2B 1 1.4B
  Pennsylvania 1 - 1 -
  Texas 1 35M - -
  Oregon 1 - - -
  New Jersey 1 - - -
  Missouri 1 93M - -
  Kansas 1 - - -
  Illinois 1 80M - -
Spain 1 - 1 -
United Kingdom 1 - 1 1.2B
Domestic 19 (90%) 26.6B (100%) 3 (60%) 1.4B (53%)
Cross-border 2 (10%) - 2 (40%) 1.2B (47%)
Total 21 $26.6B 5 $2.6B

Top M&A Advisors

Financial Deals
Barclays Investment Bank
5
Allen & Company
5
Evercore Group
3
Legal Deals
Skadden, Arps, Slate, Meagher & Flom
5
Dickson Minto W.S.
1
Garrigues
1

Deal Values

buy # Total
> $1B 3 $26.3B
< $100M 6 $296M
TOTAL $26.6B
Largest WellCare Health Plans, Inc.
$17.3B (2019-03-27)
sell # Total
> $1B 2 $2.6B
TOTAL $2.6B
Largest Magellan Rx Management
$1.4B (2022-05-05)

M&A Connections

Deals
Acquired from
Investor(s)
19%
4 (19%)
Strategic(s)
24%
5 (24%)
Divested to
Investor(s)
20%
1 (20%)
Strategic(s)
80%
4 (80%)

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