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Centene to acquire at-risk primary care provider

Centene Corp. has agreed to acquire Community Medical Holdings Corp., which does business as Community Medical Group.

Under the terms of the agreement, Centene can fund the purchase with cash, or a combination of cash and stock. The transaction is expected to have a neutral impact to GAAP and adjusted EPS in 2018 and to be slightly accretive to GAAP and adjusted EPS in 2019.

The transaction is expected to close in the first quarter of this year, subject to the expiration or termination of the applicable waiting periods and other customary closing conditions.

Community Medical Group is an at-risk primary care provider and serves over 70,000 Medicaid, Medicare Advantage and health insurance marketplace program patients in Miami-Dade County, Fla.