January 22, 2010 at 07:00 AM EST
Centene Corporation Announces Pricing of Follow-On Public Offering

ST. LOUIS, Jan. 22 /PRNewswire-FirstCall/ -- Centene Corporation (NYSE: CNC) today announced the pricing of its previously announced follow-on public offering of 5,000,000 shares of its common stock at a public offering price of $19.25 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares at the public offering price to cover any over-allotments.  The offering is scheduled to close on January 27, 2010.

Centene intends to use the net proceeds of the offering to repay the outstanding indebtedness under its $300,000,000 revolving credit facility and for general corporate purposes, which may include acquisitions, capital expenditures and additions to working capital.

The shares are being offered through underwriters led by BofA Merrill Lynch, Goldman, Sachs & Co., J. P. Morgan Securities Inc., and Credit Suisse Securities (USA) LLC.  Barclays Capital Inc., Allen & Company LLC, and Stifel, Nicolaus & Company, Incorporated are the co-managers of the offering. The offering is being conducted pursuant to an effective registration statement filed on January 19, 2010 with the Securities and Exchange Commission.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering is being made by means of a prospectus and the related prospectus supplement only. Copies of the prospectus and the related prospectus supplement, when available, can be obtained from BofA Merrill Lynch, 4 World Financial Center, New York, NY  10080, Attn: Prospectus Department or by e-mail at Prospectus.Requests@ml.com; Goldman, Sachs & Co., 85 Broad Street, New York, New York 10004, Attention: Prospectus Department, Toll-Free 1-866-471-2526, or by e-mail at prospectus-ny@ny.email.gs.com; J.P. Morgan Securities Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by calling 1-866-803-9204; and Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, or via telephone at 1-800-221-1037.

About Centene Corporation

Centene Corporation is a leading multi-line healthcare enterprise that provides  programs and related services to individuals receiving benefits under Medicaid, including the Children's Health Insurance Program (CHIP), as well as Aged, Blind, or Disabled (ABD), Foster Care, Long-Term Care and Medicare (Special Needs Plans).  The Company operates local health plans and offers a wide range of health insurance solutions to individuals and the rising number of uninsured Americans.  It also contracts with other healthcare and commercial organizations to provide specialty services including behavioral health, life and health management, managed vision, telehealth services, pharmacy benefits management and medication adherence.

The information provided in this press release contains forward-looking statements that relate to the public offering of common stock, including without limitation, statements regarding the completion of the offering and the use of proceeds. Actual events or results may differ materially from those contained in the forward-looking statements.  The Company's reports to the SEC contain additional information relating to additional factors that could cause actual results to differ from these forward-looking statements. The Company disclaims any obligation to update this forward-looking financial information in the future.

SOURCE Centene Corporation

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