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Thursday, 03/28/2019 11:09:52 AM

Thursday, March 28, 2019 11:09:52 AM

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$WCG The combined company will have estimated pro forma 2019 revenues of approximately $97 billion, and a pro forma EBITDA of $5 billion, based on the most recent 2019 outlooks publicly reported by both companies.

https://www.sec.gov/Archives/edgar/data/1071739/000119312519088684/d709458d425.htm

Today, Centene and WellCare will have the size, scale and experience and expertise to better serve our members and government partners. This will further our shared commitment to the communities in which our members providers, and employees live and work. This will deliver significant long-term value to our collective shareholders. The combined company will have estimated pro forma 2019 revenues of approximately $97 billion, and a pro forma EBITDA of $5 billion, based on the most recent 2019 outlooks publicly reported by both companies.
It enables us to expand our national footprint with meaningful product and geographic business [inaudible]. The combined company will serve approximate 22 million individuals across all 50 states in the U.S. We will offer affordable and high-quality products to more than 12 million Medicaid and approximately five million Medicare recipients, including Medicare Prescription Drug Plans or PDP, and individuals served in the Health Insurance Marketplace and TRICARE programs.


...

Thanks, Michael. I’m pleased to be here today and share your enthusiasm for the future of our two great companies. Continuing on Slide 7, WellCare has had an impressive performance over the last five years, generating more than 235 percent in returns for our shareholders.
Since our founding in 1985, we’ve worked hard to transform our business into one of the leading Medicaid and Medicare players in the country, with 5.5 million members, excluding the PDP business, we recently acquired from Aetna which will be incorporated into our results beginning January 1, 2020, and in excess of $26 billion in total revenue projected for yearend 2019.


...

Turning to Slide 11, you will see that in addition to our product diversification, we are also geographically diverse. Centene’s portfolio is and always has been member-centric and built to support our local delivery model. With WellCare, we will expand our footprint from operations, from 32 to all 50 states. This will provide greater benefits to more members, providers, partners and drive value for shareholders.
The combination adds WellCare’s health brands in Hawaii, Kentucky and New Jersey and enhanced presence Most importantly, our proven local approach will not change, as many of you know, a core part of Centene’s strategy is to go beyond traditional health care to partner with states and other key stakeholders to offer programs and services. We look forward to continuing this commitment and applying it across an even greater footprint for the benefits of all stakeholders.


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