Centene Sells Majority Stake In U.S. Medical Management

Posted on November 3, 2021 Written by Annalyn Frame

Centene Corporation (NYSE : CNC) has signed a definitive agreement for the sale of a majority stake U.S. Medical Management, LLC to Rubicon Founders, Valtruis, a WCAS business; Oak HC/FT and HLM Venture Partners. Centene will keep a minority share in USMM.

“USMM, with more than 25 years’ experience in home-based healthcare, has consistently delivered lower costs and better outcomes for patients,” stated Sarah London, Vice Chairman of Centene’s Board of Directors. We are confident that this transaction will position USMM to grow its reach and impact, while also helping Centene achieve our value creation goals. Centene plans to use the proceeds of the sale to repurchase stock as part of its ongoing portfolio review. This is the first step towards a material stock purchase program.

USMM is a group of companies that provides high-quality, coordinated home healthcare. USMM also owns and developed a number of allied health assets that support home-based primary healthcare and increase the efficiency and value of housecall medicine. USMM Accountable Care Partners (USMM ACP), which was established in 2015 as an Accountable Care Organization, is the only ACO that focuses exclusively on home-limited, frail and disabled populations. USMM ACP has saved $154 million over the five-year period for its Medicare beneficiaries.

This is an opportunity to partner up with one of the best value-based healthcare businesses in the country. Every day, USMM patients rely on USMM for medical care in their own homes. “I strongly believe in this mission, and I look forward to working with the team to make a substantial difference in peoples lives,” stated Adam Boehler CEO of Rubicon Founders and former Director of CMMI and founder of Landmark Health.

Centene’s financial advisor is Evercore, while Skadden Arps Slate Meagher & Flom LLP, Locke Lord LLP, and Skadden Arps Slate Meagher & Flom LLP are its legal counsel. WCAS is represented by Ropes & Gray LLP.

Clearance must be obtained under Hart-Scott Rodino Act, and other customary closing conditions must be satisfied.

About Annalyn Frame

Annalyn Frame
Editor-in-Chief, Health Plan News

Annalyn Frame is a dedicated registered nurse and accomplished healthcare journalist known for her commitment to promoting accessible and accurate healthcare information. With a unique blend of medical expertise and editorial prowess, Annalyn serves as the Editor-in-Chief of Health Plan News, a leading online platform at the forefront of disseminating essential insights into the ever-evolving landscape of health plans, wellness strategies, and healthcare policy.

Professional Background:
Annalyn's journey in healthcare began as a passionate registered nurse, where she honed her clinical skills and developed a deep understanding of patient care. Her experience in various healthcare settings, ranging from bustling urban hospitals to rural community clinics, has given her a comprehensive perspective on the challenges and opportunities within the industry.

Driven by her desire to bridge the gap between medical knowledge and public awareness, Annalyn transitioned into healthcare journalism. Her keen ability to dissect complex medical concepts and translate them into easily digestible content quickly set her apart as a prominent voice in the field. Her articles, renowned for their clarity and accuracy, have empowered individuals to make informed decisions about their health and well-being.

Editorial Leadership:
As the Editor-in-Chief of Health Plan News, Annalyn Frame brings her healthcare expertise to the forefront. Under her guidance, the publication has become a trusted resource for professionals and consumers alike, offering timely updates on health insurance trends, legislative changes, cost-saving strategies, and innovative healthcare solutions. Annalyn's commitment to journalistic integrity ensures that readers receive information that is not only up-to-date but also reliable, enabling them to navigate the complexities of healthcare with confidence.

Advocacy and Impact:
Beyond her role as an editor, Annalyn remains a staunch advocate for accessible healthcare and health literacy. She frequently participates in community health workshops, seminars, and public speaking engagements, where she empowers individuals with the knowledge they need to take charge of their health. Annalyn's dedication to improving healthcare access extends to her volunteer work with underserved populations, where she leverages her nursing background to provide hands-on care and education.

Education:
Annalyn Frame holds a Bachelor of Science in Nursing (BSN) degree from a respected institution. Her academic foundation, coupled with her hands-on experience, allows her to offer a well-rounded perspective on healthcare matters.

Annalyn Frame's dynamic blend of nursing expertise and editorial leadership has made her a driving force in both healthcare and journalism circles. Her unwavering commitment to delivering accurate, approachable healthcare information through her role as Editor-in-Chief of Health Plan News underscores her mission to empower individuals and promote positive change within the healthcare industry.

Recent News

About Annalyn Frame