RALEIGH, N.C., March 20, 2018 (GLOBE NEWSWIRE) -- Carolina Complete Health Network, Inc. (CCHN), a company formed to build and support a patient-focused, physician-led Medicaid health network, today announced that it has commenced an offering of up to 20,000 shares of its Class P Common Stock, $0.01 par value per share, pursuant to Regulation A of the Securities Act of 1933, as amended. CCHN is offering one, but not more than one, share of Class P Common Stock, for a subscription price per share of $750, solely to physicians, physician assistants and nurse practitioners licensed or approved to practice, as applicable, in North Carolina who (i) participate in CCHN’s provider network, (ii) reside in North Carolina, Georgia, South Carolina, Tennessee or Virginia and (iii) meet certain other eligibility criteria.

CCHN intends to use 45 percent of the net offering proceeds to help fund CCHN’s portion of the initial capitalization of a joint venture company formed with Centene Corporation and the remainder for general working capital purposes.

About Carolina Complete Health Network, Inc. (CCHN)

CCHN is a subsidiary of the North Carolina Medical Society (NCMS) formed for the purpose of establishing, building and maintaining a physician-led network of providers to serve Medicaid beneficiaries in North Carolina. CCHN will furnish provider network services to a new, NC-based health plan, Carolina Complete Health, to serve Medicaid beneficiaries with value-based models-of-care. This new health plan is the result of a collaboration of NCMS, the North Carolina Community Health Center Association, and Centene Corporation to provide a patient-focused approach to Medicaid under the reform plan enacted in the State of North Carolina.

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