This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Centene To Acquire Specialty Pharmacy Leader AcariaHealth

ST. LOUIS, Jan. 14, 2013 /PRNewswire/ -- Centene Corporation (NYSE: CNC) today announced that it has signed a definitive agreement to acquire Specialty Therapeutic Care Holdings, Inc. (d/b/a  AcariaHealth), one of the nation's largest, independent, comprehensive specialty pharmacy companies, from Enhanced Equity Funds and affiliates for $152 million.  The transaction consideration is anticipated to be financed through a combination of Centene common stock, cash on hand and existing credit facilities.  The acquisition is expected to close in the first quarter of 2013, subject to regulatory approval and other customary conditions.  The Company expects the acquisition to be neutral to earnings per share in the first 12 months following the acquisition, excluding one-time transaction costs.

This acquisition is consistent with Centene's strategic plan of capitalizing on new opportunities for growth that complement its current core areas of strength. With this transaction, US Script, Centene's pharmacy benefit manager, will now have a sister company that will expand its specialized pharmacy benefit services for complex diseases, including Hepatitis C, Hemophilia, Multiple Sclerosis, Rheumatoid Arthritis and Oncology.

"AcariaHealth's leading specialty pharmacy platform will be able to maintain the autonomy needed to serve all its current and future clients and will enhance US Script's ability to serve as a stand-alone pharmacy benefit management company, which is a key component to Centene's broader product offerings to its state customers," said Jason Harrold, Executive Vice President, Specialty Companies for Centene. "This integrated approach, particularly with high cost specialty drugs, will allow us to better serve the needs of our members, including the high-acuity populations such as the Aged, Blind or Disabled and Dual Eligibles.  We expect to further accelerate growth in these areas through the enhancement of our capabilities resulting from this acquisition."

AcariaHealth provides a national platform with industry leading technology and an experienced management team that is committed to the long-term success of the business. AcariaHealth also brings strong relationships with pharmaceutical companies and expanded access to limited distribution, high cost drugs.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs