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Centene, Ascension to explore joint Medicare Advantage plan

Centene Corp. and nonprofit health system Ascension have signed a letter of intent to explore the creation of a joint Medicare Advantage plan.

The plan would be established as a preferred model for their respective systems and affiliates beginning in 2020.

The letter of intent is nonbinding; the joint venture is subject to due diligence, the negotiation of definitive terms and approval by each company's board of directors, among other conditions.