Health insurer Centene revenue rises 17% on higher Medicaid sales
Oct 22 (Reuters) - Centene Corp CNC.N reported a 17% jump in third-quarter revenue on Tuesday, helped by higher sales in its Medicaid business which sells health plans for low-income Americans.
Total revenue of the company, which is buying smaller rival WellCare Health Plans Inc WCG.N for $15.27 billion, grew to $18.98 billion from $16.18 billion last year.
Net earnings attributable to Centene rose to $95 million, or 23 cents per share, in the quarter ended Sept. 30, from $19 million, or 5 cents per share, a year earlier, when the company took a charge from an industry-wide fee.
(Reporting by Saumya Sibi Joseph and Tamara Mathias in Bengaluru; Editing by Shinjini Ganguli)
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