Health insurer Centene will sell a British hospital operator for $1.2 billion as the health insurer continues to review its portfolio while focusing on its core U.S. health benefits businesses.
Centene said it has signed a definitive agreement to sell Circle Health Group, one of the largest operators of hospitals in the U.K. to PureHealth, a large healthcare system in the Middle East.
“This transaction marks another milestone in our portfolio review and showcases continued momentum against our value creation plan,” Centene Chief Executive Officer, Sarah London, said.
It’s the latest divestiture for Centene, which has already sold off some other European operations to focus more on the U.S. and earlier this year shed an artificial intelligence platform.
Meanwhile, Centene, which sells an array of government subsidized health insurance including Obamacare, and is facing more competition in these markets and is intensifying its focus on these businesses.
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