Centene Corporation is a leading healthcare provider focused on government-sponsored programs. The company provides access to healthcare services for nearly 1 in 15 individuals nationwide through programs including Medicaid, Medicare, and the Health Insurance Marketplace. Centene's mission is to transform the health of the communities it serves, one person at a time, with a focus on low-income and complex populations. The company utilizes a local approach with local brands and teams to provide quality care. Centene operates in four segments: Medicaid, Medicare, Commercial, and Other.

• Employees: 67,700 (as of December 31, 2023)
• Geographic Footprint: Operates in 50 states and the District of Columbia
• Headquarters: St. Louis, Missouri
• Founded: 1984
• Number of locations/facilities: Not specified in filing
• Revenue: $154.0 billion (FY2023)
• Market Share: Largest Medicaid health insurer and Marketplace carrier
• Key Subsidiaries/Brands: Wellcare, Ambetter Health, AcariaHealth, Magellan Health, Envolve Benefit Options, Community Medical Group, Health Net Federal Services

• CEO: Sarah M. London
• CFO: Andrew L. Asher
• President: Kenneth J. Fasola
• Executive Vice President, Secretary and General Counsel: Christopher A. Koster
• Chief Operating Officer: Susan R. Smith

Sarah M. London has served as CEO since March 2022. Andrew L. Asher has served as CFO since May 2021. Kenneth J. Fasola has served as President since December 2022. Christopher A. Koster has served as Executive Vice President, Secretary and General Counsel since December 2021. Susan R. Smith has served as Chief Operating Officer since January 2024.

• Annual Revenue: $154.0 billion (FY2023)
• Net Income: $2.7 billion (FY2023)
• Total Assets: Not specified in filing
• Employees: 67,700 (as of December 31, 2023)
• Key Financial Highlights: Total revenues increased by 7% year-over-year. Operating cash flows were $8.1 billion, representing 3.0 times net earnings and 2.2 times adjusted net earnings.

Centene offers a variety of healthcare products and services:

• Medicaid: Includes TANF, Medicaid Expansion, ABD, CHIP, LTSS, Foster Care, and MMP programs.
• Medicare: Includes Medicare Advantage, Medicare Supplement, D-SNPs, and PDPs.
• Commercial: Includes Health Insurance Marketplace plans and individual, small group, and large group commercial health insurance products.
• Other: Includes pharmacy operations, vision and dental services, clinical healthcare, behavioral health, international operations, and corporate management companies.

Centene operates through four main segments:

• Medicaid: 66% of total external revenues (FY2023)
• Medicare: 14% of total external revenues (FY2023)
• Commercial: 16% of total external revenues (FY2023)
• Other: 4% of total external revenues (FY2023)

Centene is focused on strategic decisions and investments to create additional value and opportunities for long-term growth and innovation. Key initiatives include modernizing operations, improving member and provider experiences, and creating shareholder value. The company emphasizes partnerships and local approaches to healthcare delivery. Centene is also focused on value-based arrangements, data-driven improvements, and addressing health equity.

Centene operates in a highly competitive and regulated healthcare industry. The company competes with other MCOs, specialty companies, and non-traditional competitors. Key market trends include the increasing adoption of managed care programs, government healthcare spending, and the expansion of the Health Insurance Marketplace. The company is the largest Medicaid health insurer and Marketplace carrier. The company's competitive strengths include its power of incumbency, local approach, and partnership mindset.

• Medical Costs: Failure to accurately estimate and price medical expenses or manage medical costs could adversely affect the business.
• Medicare Programs: Medicare programs are subject to risks that could impact financial results.
• Government Contracts: Failure to procure new or renew existing government contracts may adversely affect the business.
• Competition: Competition may limit the ability to increase penetration of served markets.
• Regulatory Risks: Business activities are highly regulated, and changes in laws or regulations could force changes in operations.