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BRIEF-Centene to enter New York through transaction with Fidelis Care
2017年9月12日 / 晚上9点14分 / 2 个月前

BRIEF-Centene to enter New York through transaction with Fidelis Care

Sept 12 (Reuters) - Centene Corp

* Centene Corporation to enter New York through transaction with Fidelis Care

* Centene Corp - deal for ‍$3.75 billion​

* Centene Corp - ‍signed a definitive agreement under which Fidelis Care will become Centene’s health plan in New York state​

* Centene Corp - ‍transaction expected to be significantly accretive to Centene’s EPS​

* Centene Corp - ‍Centene expects to generate 2018 pro-forma total revenues of over $60 billion assuming a January 1, 2018 closing date​ for deal

* Centene Corp - ‍intends to fund purchase price with $2.3 billion of new equity, including share consideration, and $1.6 billion of new long-term debt​

* Centene Corp - ‍upon closing of transaction, Patrick J. Frawley will continue to lead Fidelis Care as Chief Executive Officer​

* Centene Corp - ‍Centene expects to achieve $25 million of pre-tax net synergies in year 1 and $100 million run-rate synergies beginning in year 2 from deal​

* Centene Corp - ‍transaction is expected to generate immediate accretion to year 1 GAAP earnings per share​

* Centene Corp - ‍upon closing of transaction, Patrick J. Frawley will continue to lead fidelis care as chief executive officer​

* Centene Corp - ‍Centene intends to fund purchase price with $2.3 billion of new equity, including share consideration, and $1.6 billion of new long-term debt​

* Centene Corp - ‍transaction is not contingent upon financing and Centene has secured full $3.75 billion in committed bridge financing​

* Centene - deal expected to generate high single-digit and low- to mid-teens percent accretion to adjusted earnings per share in year 1 and year 2, respectively​

* Centene Corp - ‍consistent with Centene’s local approach, company will continue to be headquartered in Queens with operations throughout state​ Source text for Eikon: Further company coverage:

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