Centene is reportedly offloading its last U.K. businesses, continuing a strategy under CEO Sarah London of divesting from non-core businesses.
Centene said Aug. 28 it signed an agreement to sell Circle Health, which operates 53 hospitals in the U.K., to United Arab Emirates-based PureHealth for $1.2 billion. The Financial Times reported Aug. 30 that Centene is planning to sell its Operose clinics in the country in a deal that could be reached by the end of 2023.
Centene CEO Sarah London has overseen the divestiture of several non-core businesses since taking over the role in March 2022. She told Fortune in June that the businesses that have been sold were keeping Centene from being as focused and efficient as it could be.
"When I first started at Centene I was sitting over all those other businesses," Ms. London told the news outlet. "Each one of those is a totally different business model — running a technology business, running a provider organization and running a payer."
Other divestitures include:
- Selling artificial intelligence platform Apixio to the private equity firm New Mountain Capital, which was completed in June.
- Selling Magellan Specialty Health to healthcare administration company Evolent Health, which was completed in January.
- Selling pharmaceutical benefit manager MagellanRx to Prime Therapeutics, which was completed in December.
- Selling its Spanish and central European businesses to French private hospital group Vivalto Santé, which was completed in November.