Centene completes Pantherx sale

Centene said July 14 that it has completed the sale of its specialty and rare drug pharmacy Pantherx.

The payer first announced plans to sell the Pittsburgh-based company to Vistria Group, General Atlantic and Nautic Partners in May. It announced the deal along with a seperate sale of Magellan Rx to Prime Therapeutics. The two deals are worth a total of $2.8 billion.

Centene purchased Pantherx in December 2020. The payer said in a July 14 news release it intends to use a majority of the Pantherx sale proceeds to repurchase stock and the balance to reduce debt. 

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