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,...