{"id":5319,"date":"2022-07-25T13:33:00","date_gmt":"2022-07-25T13:33:00","guid":{"rendered":"https:\/\/distilinfo.com\/healthplan\/?p=5319"},"modified":"2022-08-01T09:34:51","modified_gmt":"2022-08-01T09:34:51","slug":"centene-signs-definitive-agreement-to-divest-its-spanish-and-central-european-businesses","status":"publish","type":"post","link":"https:\/\/distilinfo.com\/healthplan\/centene-signs-definitive-agreement-to-divest-its-spanish-and-central-european-businesses\/","title":{"rendered":"Centene Signs Definitive Agreement to Divest Its Spanish and Central European Businesses"},"content":{"rendered":"\n<p>Centene Corporation (NYSE:\u00a0CNC) announced today that as part of its previously announced review of strategic alternatives for its international portfolio, it has signed a definitive agreement to sell to Vivalto Sant\u00e9 its Spanish and Central European businesses, which include:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/youtu.be\/R1bDB8uMK1A\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" width=\"1024\" height=\"536\" src=\"https:\/\/distilinfo.com\/healthplan\/wp-content\/uploads\/sites\/2\/2022\/07\/Centene-1-1024x536.jpg\" alt=\"\" class=\"wp-image-5403\" srcset=\"https:\/\/distilinfo.com\/healthplan\/wp-content\/uploads\/sites\/2\/2022\/07\/Centene-1-1024x536.jpg 1024w, https:\/\/distilinfo.com\/healthplan\/wp-content\/uploads\/sites\/2\/2022\/07\/Centene-1-300x157.jpg 300w, https:\/\/distilinfo.com\/healthplan\/wp-content\/uploads\/sites\/2\/2022\/07\/Centene-1-768x402.jpg 768w, https:\/\/distilinfo.com\/healthplan\/wp-content\/uploads\/sites\/2\/2022\/07\/Centene-1-400x209.jpg 400w, https:\/\/distilinfo.com\/healthplan\/wp-content\/uploads\/sites\/2\/2022\/07\/Centene-1.jpg 1140w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Ribera Salud, a healthcare provider in\u00a0Spain, which operates hospitals and provides other healthcare services, including through public-private partnerships;<\/li><li>Torrej\u00f3n Salud (Torrej\u00f3n), a public-private partnership in the Community of\u00a0Madrid\u00a0which is operated by\u00a0Ribera Salud; and<\/li><li>Pro Diagnostics Group (PDG), a subsidiary of\u00a0Ribera Salud, which owns clinics providing radiology and other services in\u00a0Slovakia\u00a0and the\u00a0Czech Republic.<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1000\" height=\"527\" src=\"https:\/\/distilinfo.com\/healthplan\/wp-content\/uploads\/sites\/2\/2022\/07\/1-e1658928473491.jpg\" alt=\"\" class=\"wp-image-5344\" srcset=\"https:\/\/distilinfo.com\/healthplan\/wp-content\/uploads\/sites\/2\/2022\/07\/1-e1658928473491.jpg 1000w, https:\/\/distilinfo.com\/healthplan\/wp-content\/uploads\/sites\/2\/2022\/07\/1-e1658928473491-300x158.jpg 300w, https:\/\/distilinfo.com\/healthplan\/wp-content\/uploads\/sites\/2\/2022\/07\/1-e1658928473491-768x405.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<p>&#8220;This transaction represents another significant milestone in our value creation plan and ongoing portfolio review,&#8221; said&nbsp;Sarah London, CEO of Centene. &#8220;We are pleased to have found a leading European healthcare partner in Vivalto Sant\u00e9, who we believe is best positioned to drive growth and make additional investments in&nbsp;Ribera Salud, Torrej\u00f3n, and PDG, so they can continue providing high-quality care for patients across&nbsp;Europe.&#8221;<\/p>\n\n\n\n<p>Vivalto Sant\u00e9 is the third-largest private hospital company in&nbsp;France, operating more than 50 private hospitals, and is controlled by Vivalto Partners, a European private equity firm dedicated to the healthcare industry. Over 1,000 doctors are also shareholders of the group, providing a unique dual ownership and governance model. Vivalto Sant\u00e9 has pioneered social impact in the private hospital sector in&nbsp;France&nbsp;by becoming the first &#8220;Soci\u00e9t\u00e9 \u00e0 Mission&#8221; (French equivalent of a Certified B Corporation) in the sector, incorporating in its by-laws a clear &#8220;raison d&#8217;\u00eatre&#8221; vis- \u00e0 -vis patients &#8220;to care for and accompany patients along their care pathway and their lives&#8221; and vis-\u00e0-vis employees &#8220;to empower caregivers by emphasizing team spirit, favorable working conditions and professional inclusion.&#8221; Approximately 35% of the employees are shareholders of the company.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1000\" height=\"563\" src=\"https:\/\/distilinfo.com\/healthplan\/wp-content\/uploads\/sites\/2\/2022\/07\/3-1.jpg\" alt=\"\" class=\"wp-image-5345\" srcset=\"https:\/\/distilinfo.com\/healthplan\/wp-content\/uploads\/sites\/2\/2022\/07\/3-1.jpg 1000w, https:\/\/distilinfo.com\/healthplan\/wp-content\/uploads\/sites\/2\/2022\/07\/3-1-300x169.jpg 300w, https:\/\/distilinfo.com\/healthplan\/wp-content\/uploads\/sites\/2\/2022\/07\/3-1-768x432.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<p>Barclays&nbsp;is serving as financial advisor to Centene, and Garrigues and Havel Partners are serving as its legal counsel. Latham &amp; Watkins is serving as legal counsel to Vivalto Partners.<\/p>\n\n\n\n<p>Centene intends to use the majority of the net proceeds from the sale to repurchase stock and the balance to reduce debt. The transaction is expected to be neutral to Centene&#8217;s adjusted diluted earnings per share in the 12-month period post-closing.<\/p>\n\n\n\n<p>The transaction is subject to regulatory approvals in&nbsp;Spain&nbsp;and&nbsp;Slovakia&nbsp;and satisfaction of other customary closing conditions. The transaction is expected to close by the end of the year.<\/p>\n\n\n\nSource: <span style=\"color: #000000\"><a style=\"color: #000000\" href=\"https:\/\/www.prnewswire.com\/news-releases\/centene-signs-definitive-agreement-to-divest-its-spanish-and-central-european-businesses-301592293.html\" target=\"_blank\" rel=\"noopener noreferrer\">PR Newswire<\/a><\/span>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Centene Corporation (NYSE:\u00a0CNC) announced today that as part of its previously announced review of strategic alternatives for its international portfolio,&#8230; <a href=\"https:\/\/distilinfo.com\/healthplan\/centene-signs-definitive-agreement-to-divest-its-spanish-and-central-european-businesses\/\" style=\"white-space: nowrap;\">Continue Reading <i class=\"fas fa-long-arrow-alt-right\" style=\"vertical-align: middle;\"><\/i><\/a><\/p>\n","protected":false},"author":10,"featured_media":5320,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1],"tags":[34,35,36],"class_list":{"0":"post-5319","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-distilinfo-originals","8":"tag-business","9":"tag-community","10":"tag-europeanbusiness","11":"entry"},"_links":{"self":[{"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/posts\/5319"}],"collection":[{"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/comments?post=5319"}],"version-history":[{"count":5,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/posts\/5319\/revisions"}],"predecessor-version":[{"id":5413,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/posts\/5319\/revisions\/5413"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/media\/5320"}],"wp:attachment":[{"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/media?parent=5319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/categories?post=5319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/tags?post=5319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}