ST. LOUIS, Oct. 23, 2023 /PRNewswire/ — Centene Corporation (NYSE: CNC) (the “Company”), a leading healthcare company dedicated to helping people live healthier lives, today announced that Wade Lakes announced that he has appointed him as Chief Growth Officer. Mr. Lakes currently serves as Plan President and Chief Executive Officer of Peach State Health Plan (“Peach State”), a Georgia-based subsidiary of Centene, where he manages Medicaid, business development, and health plan management. He will leverage his extensive leadership experience to support and advance health plans. Our unique local business model in conjunction with Centene's medical plans and business areas. We leverage Centene's mission and expertise to deepen our relationships with our members, communities, and partners. Drive intentional expansion across existing products. Identify growth opportunities in new products and markets. Mr. Lakes will continue to serve as chairman of Peach State's board of directors, serving in both roles until a new president and CEO of Peach State Plan is appointed.
Mr. Lakes brings more than 20 years of business and healthcare industry experience. At Peach State University, he led one of the state's largest insurance plans, providing more than 1.3 million Georgians with access to high-quality Medicaid, Medicare Advantage, and Marketplace He plans. Prior to this role, Mr. Rakes served as Regional Vice President of Business Development, Growth and Expansion for his Centene, driving more than $5 billion in new business opportunities annually and leading the company in both Pennsylvania and California. He was responsible for overseeing the launch of the medical plan. He also played a leading role in the business development and integration efforts of several significant Centene acquisitions, including Fidelis Care, Health Net and Wellcare. Mr. Lakes previously served as the Company's first Chief Diversity and Inclusion Officer. Prior to joining Centene in 2010, he served as Senior Advisor to the Governor of Ohio and Director of State Communications. Early in his career, he held roles of increasing responsibility at his Showtime Networks.
“Wade is an experienced leader with proven expertise in business development and market expansion,” said Sarah M. London, CEO of Centene. “His knowledge of the managed care field and extensive experience at Centene will help us accelerate opportunities to serve our members in both existing and new markets, working with partners and colleagues internally and nationally. I guess.”
Mr. Lakes earned a BA in Economics from Princeton University and an MBA from the University of Michigan. He is a member of the Atlanta High Museum Board of Directors. Metro Atlanta Chamber of Commerce. LGBTQ+ Victory Fund (Chair). Beyond Differences (Chair); Advisory Board of the James A. Baker III Institute at Rice University. Princeton University's President's Advisory Council.
About Centene Co., Ltd.
Centene Corporation, a Fortune 500 company, is a leading healthcare company committed to helping people live healthier lives. We take a local approach with local brands and local teams, focus on underinsured and uninsured individuals, and fully integrate into government-sponsored and private health care programs. We provide high quality and cost effective services. Centene is committed to providing affordable access to nearly 1 in 15 individuals nationwide, including Medicaid and Medicare members (including Medicare prescription drug plans), individuals and families served by the Health Insurance Marketplace and the TRICARE program. We offer quality products at reasonable prices. We also contract with other medical and commercial institutions to provide a variety of specialty services focused on treating the entire body. Centene is focused on long-term growth and value creation, and the development of our people, systems and capabilities to better serve our members, providers, communities and government partners.
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Actual results may differ materially from any projections, estimates or other forward-looking statements due to a variety of important factors, variables and events, including, but not limited to: the ability to design and price products that are competitive and/or actuarially sound, including, without limitation, impacts arising from Medicaid redetermination; our ability to maintain or improve our Centers for Medicare and Medicaid Services (CMS) star ratings and maintain or achieve other quality score improvements that may impact our revenue and future growth; our ability to accurately predict and effectively manage health benefits and other operating expenses and reserves, including changes in healthcare utilization; competition, including the ability to re-source contracts and grow organically; the timing and extent of benefits derived from our value creation strategies; This includes the possibility that the benefits obtained will be lower than expected, will not occur, or will not be realized within the expected period. Ability to effectively manage information systems. interruptions, unanticipated costs or similar risks associated with business transactions, including acquisitions, divestitures and changes in relationships with third parties; Impairment of real estate, investments, goodwill and intangible assets. changes in senior management, loss of one or more key personnel or inability to attract, hire, integrate or retain skilled personnel; declines or unanticipated trends in membership and revenue; interest rate cuts or other payment reductions or delays by government payors and other risks and uncertainties affecting government operations; Changes in medical practice, new technologies, and advances in medicine. Increase in medical costs. Inflation; changes in economic, political, or market conditions. changes in federal or state laws or regulations; This includes income tax reform or changes to government health care programs, as well as changes to the Patient Protection and Affordable Care Act and the Affordable Care Act and the Affordable Care Act (collectively referred to as the Affordable Care Act). Contains changes related to ACA) and any regulations enacted thereunder. tax issues. Disasters and large-scale epidemics. Change of scheduled contract start date. delays in the timing of regulatory approvals of contracts due to provider, state, federal, foreign and other contract changes and protest activities; expiration, suspension or termination of our contracts with federal or state governments, including without limitation Medicaid, Medicare, Tricare or other customers; any legal or regulatory proceedings or matters, including, without limitation, our ability to resolve claims and/or allegations brought by states regarding past practices at Centene Pharmacy Services (formerly Envolve Pharmacy); Difficulties in Predicting Timing and Results Solutions, Inc. (Envolve), as our Pharmacy Benefit Manager (PBM) subsidiary, may be unable to predict timing or results within the range of our previously recorded reserve estimates and other acceptable federal or stockholder litigants, or government investigations, whether or not on any available terms or at all, or whether additional claims, reviews or investigations are brought by states; Objection to our conclusion of a contract. cyber-attacks or other privacy or data security incidents; commitments of management time and resources and other costs and business changes incurred in connection with compliance with our contractual terms and initiatives related to regulatory, governmental or third party consents or approvals relating to the acquisition or disposition; . changes in the expected completion date, estimated purchase price, acquisition or disposition accretion, including due to the timing of regulatory approvals for the pending sale of Circle Health Group (Circle Health); losses in our investment portfolio; Limitations and limitations related to our indebtedness. a downgrade in the credit rating of our indebtedness; the availability of debt and equity financing on terms favorable to the Company; Foreign exchange fluctuations. risks and uncertainties discussed in Centene's reports filed with the Securities and Exchange Commission (SEC); This list of important factors is not exhaustive. We discuss some of these matters and our business operations, financial condition and results of operations in our filings with the SEC, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-K. Certain other factors that may have an impact are discussed in more detail. Current Reports on Form 10-Q and Form 8-K. These important factors and risks affect our future outlook, including, but not limited to, our ability to maintain adequate insurance premium levels and control future medical, selling, general and administrative expenses. No guarantees can be given regarding performance.