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Larry Suffredin

Centene shares dip, recover after news of Cook contract loss

Centene shares dip, recover after news of Cook contract loss

Shares of health insurer Centene fell in early trading Friday before rebounding, a day after the Chicago Tribune reported that one of the firm's subsidiaries will lose a Medicaid contract with Cook County valued at up to $1.8 billion over five years. Centene touched a low of $69.42 a share before ending regular trading at $71.51, up 1.45 percent on the day. A spokeswoman at Cook County Health and Hospitals System confirmed Thursday that it plans to find a replacement for IlliniCare Health, a division of St. Louis-based Centene, to run its Medicaid managed care plan. The county posted a request for bids Tuesday. William Scheffel, Centene's chief financial officer, attributed some...

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