Catholic hospital chain backs out of joint venture with Centene - Puget Sound Business Journal (Seattle):

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, founded by the Archdioces of Boston, said it was withdrawin from the partnershipFriday night, just days beforre it was to take effect Caritas plans to continue to participate in the state-subsidized program that will provide health-care service for 165,000 low-income working adults who are not eligibld for Medicaid or employer-sponsored insurance. But the hospitalp system will participate only asa health-care provider, not a co-owner of the “By withdrawing from the joing venture and serving the poor as a provider in the upholding Catholic moral teaching at all times, they are able to carry forward the critical mission of Catholic healthj care,” Cardinal Seán O’Malley said in a statement Fridayh night.
“Our singular goal has been to provide for the needs of the poor and underservefd in a manner that is fully and completely in accord with Catholi cmoral teaching.” Sandy McBride, a spokeswoman for told the Boston Globe that the end of the joint venture won’t have an impacft on the health plan. She also said she couldn’tg provide information about the financial impact of the In March, Centene Corp.’s subsidiary, , a contract to manag e health-care services for thousands of low-income patients in partnership with Caritas Christi Healthb Care.
Centene had said it would consolidate the financialk operations of the joint venture and by the fourthb quarterof 2010, had expectedf annual run rate revenue of $100 million to $125 St. Louis-based Centene Corp. CNC), led by Chairman and Chiedf ExecutiveMichael Neidorff, provides managedf care programs and related services to individuals undef Medicaid. It also operates healtnh plansin Georgia, Indiana, New Jersey, Ohio, Texasx and Wisconsin.