Centene & Unit Inks New Deal To Expand Foothold In Ferguson
Zacks Investment Research | Jul 19, 2017 10:18PM ET
Centene Corporation (NYSE:CNC) and its Missouri subsidiary, Home State Health, recently inked a deal with Schnuck Markets, Inc. and the Betty Jean Kerr People's Health Centers. The partnership aims at opening a full-service health center within the Schnucks supermarket in Ferguson, MO.
Per the deal, Centene would initially invest more than $1.3 million for the health center, scheduled to open in Nov 2017. Schnuck Markets would donate the space in its Ferguson store for the primary care and urgent care divisions meant for adults and children over the age of three.
In addition, Centene would take care of the health center's operations whereas medical services would be provided by the clinical staff from People's Health. The facility is expected to have the capacity of serving over 8,000 people annually. The clinic would provide services like low acuity primary care and urgent care for adults and children above the age of three, immunization services, laboratories and dental services through mobile unit.
Apart from organic growth, Centene has also been deploying capital in numerous acquisitions, mergers as well as alliances. The recent acquisition of Health Net has boosted the company’s growth, expansion and asset base.
Shareholders have favorably viewed the company’s inorganic initiatives, which is evident from its share price movement. Year to date, the stock has rallied 50%, outperforming the Zacks categorized Zacks Investment Research
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