From Wikipedia, the free encyclopedia
Managed health care company
Magellan Health Inc.
(formerly
Magellan Health Services Inc.
), is an American for-profit
managed health care
company and
subsidiary
of
Centene
that's focused on special populations, complete pharmacy benefits and other specialty areas of healthcare. Magellan supports innovative ways of accessing better health through technology, while remaining focused on the critical personal relationships that are necessary to achieve a healthy, vibrant life. Magellan's customers include health plans and other managed care organizations, employers, labor unions, various military and
governmental agencies
and third-party administrators. It ranked 390 on the
Fortune 500
in 2021.
[4]
History
[
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]
The company began as the
psychiatric hospital
chain Charter Medical, headquartered in
Macon, Georgia
. In 1992, the company filed for
Chapter 11 bankruptcy
, stemming from debt incurred as a result of the 1988 management-led takeover.
[5]
After recovering from bankruptcy, it moved its headquarters to
Atlanta
in 1994.
[6]
Acquiring a major stake in Green Spring Health Services Inc., a managed care company based in
Columbia, Maryland
, the company re-structured into a new holding company, changing its name to Magellan Health Services.
[7]
In 1997, Magellan entered the behavioral health managed care business by acquiring Human Affairs International and Merit Behavioral Care.
[8]
In 1999 the company moved to Green Spring's old headquarters in
Columbia, Maryland
.
[9]
In 2004, the company headquarters moved to
Connecticut
. In 2014, the company moved its headquarters from Connecticut to
Arizona
.
[10]
Magellan sold its managed care division to
Molina Healthcare
in 2018.
[11]
On January 4, 2021, it was announced
Centene Corporation
would acquire the company for $2.2 billion.
[12]
On January 4, 2022, the acquisition was completed.
[13]
Centene divested Magellan Rx in 2022 to Prime Therapeutics.
[14]
Centene announced the sale of Magellan Specialty Health to Evolvent Health in 2022.
[15]
References
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