ST. LOUIS, April 2, 2013 /PRNewswire/ -- Centene Corporation (NYSE: CNC) announced today that on April 1, 2013, it completed the purchase of Specialty Therapeutic Care Holdings, Inc. (d/b/a AcariaHealth), one of the nation's largest, independent, comprehensive specialty pharmacy companies, from Enhanced Equity Funds. The transaction was financed through a combination of approximately 1.7 million shares of Centene common stock, cash on hand as well as up to $15.3 million of Centene common stock from an equity offering related to funding the escrow account.
Centene is working closely with AcariaHealth to ensure a seamless transition for customers and other key stakeholders.
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. Additional details will be provided when Centene reports its first quarter financial results on April 23, 2013.
This release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of any shares in any state in which such offer, solicitation or sale would be unlawful prior to registration of qualification under the securities laws of any such state.
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