- (PLX AI) - Centene has signed a definitive agreement to sell Magellan Rx to Prime Therapeutics LLC (Prime) and a separate definitive agreement to sell PANTHERx Rare to a consortium of The Vistria Group, General Atlantic, and Nautic Partners.
- • Centene intends to use the majority of the net proceeds from the sales to repurchase stock and the balance to reduce debt
- • Each of the transactions is expected to be neutral to slightly accretive to Centene's Adjusted Earnings Per Share in the 12-month period post-closing
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