Centene CEO to market: Wait and see

3 years 2 months 1 week ago Saturday, September 05 2015 Sep 5, 2015 Saturday, September 05, 2015 11:56:45 AM CDT September 05, 2015 in News
By: Associated Press

CLAYTON (AP) - The CEO of health care company Centene Corp. has a simple message for those skeptical that its acquisition of Health Net will be a success: Wait and see.

Suburban St. Louis-based Centene shares have fallen 26 percent since the $6.8 billion acquisition of Health Net, a California-based managed care company, was announced in July.

Centene Chief Executive Officer Michael Neidorff told the St. Louis Post-Dispatch that he believes Centene can squeeze $150 million from Health Net's costs after the deal closes early next year, largely by taking over some functions that Health Net outsources.

But Neidorff says there will not be the "slash and burn" that follows some mergers.

 

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