Who Owns Health Net?

Is Centene a subsidiary of another company?
No, Centene Corporation is an independent, publicly traded corporation with no parent company. The company operates independently with its own management structure and board of directors, though it has grown through numerous acquisitions throughout its history, including the transformative $17.3 billion acquisition of WellCare Health Plans in January 2020.

Is Centene publicly traded?
Yes, Centene Corporation is publicly traded on the New York Stock Exchange under the ticker symbol CNC. The company has been publicly traded since its IPO in 2001, when it had three health plans, $327 million in revenue, and 235,000 members. As of 2025, the company is ranked No. 23 on the Fortune 500 list.

When was Centene founded?
Centene traces its origins to 1984 when Elizabeth Brinn founded Managed Health Services as a non profit organization in Milwaukee, Wisconsin. The company was renamed Centene Corporation in 1997 when Michael Neidorff was named President and CEO, and the corporate office was established in St. Louis, Missouri. The company went public in 2001.

Who founded Centene?
Centene was founded by Elizabeth Brinn in 1984 as Managed Health Services, a non profit organization focused on providing healthcare services to Medicaid populations in Milwaukee, Wisconsin. After her death, the organization was converted to a for profit company. Michael Neidorff was named CEO in 1997 and grew Centene from a local health plan to a national healthcare leader over 25 years.

What is Centene's annual revenue?
For fiscal year 2025 (ended December 31, 2025), Centene reported total revenue of $194.8 billion, a 19% increase from $163.1 billion in FY2024. Premium and service revenues were $174.6 billion, up 20% year over year. The company recorded a GAAP net loss of $6.7 billion, primarily due to a $6.7 billion non cash goodwill impairment charge. Adjusted diluted EPS was $2.08, down from $7.17 in FY2024.

What is Centene's market position?
Centene is the largest Medicaid managed care organization in the United States, the longest running carrier in the Health Insurance Marketplace, and a national leader in Medicare Prescription Drug Plans. The company serves 27.6 million members across all 50 states as of December 31, 2025, with revenue from Medicaid (57%), Commercial (21%), Medicare (19%), and Other (3%) segments. Centene is ranked No. 23 on the Fortune 500 and No. 42 on the Fortune Global 500.

Who is Centene's CEO?
Sarah M. London has served as Chief Executive Officer of Centene Corporation since 2022. She is the first woman to lead the company. Under her leadership, Centene has refocused on three core lines of business: Medicaid, Medicare, and the Health Insurance Marketplace. In 2025, London navigated the company through significant challenges including the $6.7 billion goodwill impairment, Marketplace risk adjustment shortfall, and elevated Medicaid medical cost trends.

What is the WellCare acquisition?
In January 2020, Centene completed the acquisition of WellCare Health Plans in a $17.3 billion transaction (enterprise value). WellCare shareholders received 3.38 shares of Centene common stock and $120 in cash for each share of WellCare common stock. The acquisition made Centene a nationwide company serving all 50 states with approximately 24 million members, expanded its Medicare platform, and extended its Medicaid offerings. WellCare became a wholly owned subsidiary of Centene and continues to operate as a brand under the Centene umbrella.