# Magellan Health > Mediated Wiki article. Canonical URL: https://mediated.wiki/source/Magellan_Health > Markdown URL: https://mediated.wiki/source/Magellan_Health.md > Source: https://en.wikipedia.org/wiki/Magellan_Health > Source revision: 1329582921 > License: Creative Commons Attribution-ShareAlike 4.0 International (https://creativecommons.org/licenses/by-sa/4.0/) {{Short description|Managed health care company}} {{Use mdy dates|date=January 2025}} {{Infobox company | name = Magellan Health Inc. | logo = Magellan Health Logo.png | type = [Subsidiary](/source/Subsidiary) | traded_as = {{NASDAQ was|MGLN}} | foundation = {{Start date and age|1969}}{{cite web | url=https://www.sec.gov/Archives/edgar/data/19411/000104746915001263/a2223071z10-k.htm | title=Form 10-K: Magellan Health, Inc. | publisher=Securities and Exchange Commission | accessdate=24 May 2015}} | location = [Phoenix, Arizona](/source/Phoenix%2C_Arizona), United States | key_people = Derrick A. Duke ([CEO](/source/Chief_executive_officer)) | num_employees = 9,092{{Cite web|url=https://www.magellanhealth.com/about/about-magellan-health/|title=Magellan Health|website=Fortune|access-date=2018-12-31}} | num_employees_year = 2021 | industry = [Managed health care](/source/Managed_health_care) | products = | revenue = {{increase}} [US$](/source/United_States_Dollar) 4.6 billion (''FY 2020'') [https://ir.magellanhealth.com/news-releases/news-release-details/magellan-health-reports-2020-financial-results Magellan Health Reports 2020 Financial Results] | net_income = {{decrease}} [US$](/source/United_States_Dollar) 4.0 million (''FY 2020'') | assets = {{Increase}} [US$](/source/United_States_dollar) 1.14 billion (''FY 2020'') | parent = [Centene Corporation](/source/Centene_Corporation) | equity = | homepage = {{URL|https://www.magellanhealth.com/}} }} '''Magellan Health Inc.''' (formerly '''Magellan Health Services Inc.'''), is an American for-profit [managed health care](/source/managed_health_care) company and [subsidiary](/source/subsidiary) of [Centene](/source/Centene) that focuses on special populations and other specialty areas of healthcare. Magellan's customers include health plans and other managed care organizations, employers, labor unions, various military and [governmental agencies](/source/Government_agency) and third-party administrators. It ranked 390 on the [Fortune 500](/source/Fortune_500) in 2021.{{cite web|url=http://fortune.com/fortune500/magellan-health/|title=Magellan Health|publisher=Fortune|accessdate=24 May 2015|archive-date=23 July 2017|archive-url=https://web.archive.org/web/20170723205953/http://fortune.com/fortune500/magellan-health/|url-status=dead}} == History == The company began as the [psychiatric hospital](/source/psychiatric_hospital) chain [Charter Medical](/source/Charter_Behavioral_Health_Systems), headquartered in [Macon, Georgia](/source/Macon%2C_Georgia). In 1992, the company filed for [Chapter 11 bankruptcy](/source/Chapter_11_bankruptcy), stemming from debt incurred as a result of the 1988 management-led takeover.{{cite news | url=https://news.google.com/newspapers?nid=1356&dat=19920604&id=tc9PAAAAIBAJ&sjid=cAcEAAAAIBAJ&pg=6585,2475825&hl=en | title=Charter Medical Corp. files bankruptcy plan | work=Ocala Star-Banner | date=4 Jun 1992 | accessdate=24 May 2015}} After recovering from bankruptcy, it moved its headquarters to [Atlanta](/source/Atlanta) in 1994.{{cite news | title=Headquarters will move to Atlanta | work=The Atlanta Journal and Constitution | date=29 June 1994 }} Acquiring a major stake in Green Spring Health Services Inc., a managed care company based in [Columbia, Maryland](/source/Columbia%2C_Maryland), the company re-structured into a new holding company, changing its name to Magellan Health Services.{{cite news | title=Charter to expand into managed care | work=The Atlanta Journal and Constitution | date=20 October 1995 }} In 1997, Magellan entered the behavioral health managed care business by acquiring Human Affairs International and Merit Behavioral Care.{{Cite news |last=Sharpe |first=Anita |date=1997-10-28 |title=Magellan Health Plans to Buy Merit Behavioral for $460 Million |url=https://www.wsj.com/articles/SB877967441178548000 |access-date=2025-04-06 |work=Wall Street Journal |language=en-US |issn=0099-9660}} In 1999 the company moved to Green Spring's old headquarters in [Columbia, Maryland](/source/Columbia%2C_Maryland).{{cite news | title=Magellan will move offices to Maryland | work=The Atlanta Journal and Constitution | date=22 May 1999 | author=Miller, Andy | pages=1H}} In 2004, the company headquarters moved to [Connecticut](/source/Connecticut). In 2014, the company moved its headquarters from Connecticut to [Arizona](/source/Scottsdale%2C_Arizona).{{cite web|url=https://www.courant.com/business/hc-xpm-2014-04-29-hc-magellan-moves-avon-arizona-20140429-story.html|title=Magellan Health To Move Headquarters From Avon To Arizona|first=Matthew|last=Sturdevant|website=courant.com|date=29 April 2014 }} Magellan sold its managed care division to [Molina Healthcare](/source/Molina_Healthcare) in 2018.{{Cite web |last=Minemyer |first=Paige |date=2020-04-30 |title=Molina to buy Magellan Complete Care in $820M deal {{!}} Fierce Healthcare |url=https://www.fiercehealthcare.com/payer/molina-to-buy-magellan-complete-care-820m-deal |access-date=2025-04-06 |website=www.fiercehealthcare.com |language=en}} On January 4, 2021, it was announced [Centene Corporation](/source/Centene_Corporation) would acquire the company for $2.2 billion.{{Cite news|url=https://azbigmedia.com/business/centene-acquires-phoenix-based-magellan-health/ |title=Centene acquires Phoenix-based Magellan Health|access-date=2021-01-04}} On January 4, 2022, the acquisition was completed.{{cite web |title=Centene Completes Acquisition of Magellan Health, Establishing a Leading Behavioral Health Platform at a Critical Time |url=https://www.prnewswire.com/news-releases/centene-completes-acquisition-of-magellan-health-establishing-a-leading-behavioral-health-platform-at-a-critical-time-301453788.html |website=[PR Newswire](/source/PR_Newswire)|language=en |access-date=2022-01-04 |date=2022-01-04}} Centene divested Magellan Rx in 2022 to Prime Therapeutics.{{cite journal|date=6 May 2022|url=https://www.healthcarefinancenews.com/news/centene-divesting-two-pharmacy-businesses-combined-28-billion|title=Centene divesting two pharmacy businesses for combined $2.8 billion|journal=Healthcare Finance|access-date=9 May 2022|url-status=}} Centene announced the sale of Magellan Specialty Health to Evolvent Health in 2022.{{Cite web |last=Raths |first=David |date=2022-11-22 |title=Centene Selling Magellan Specialty Health to Evolent Health |url=https://www.hcinnovationgroup.com/finance-revenue-cycle/mergers-acquisitions/news/21288059/centene-selling-magellan-specialty-health-to-evolent-health |access-date=2024-06-05 |website=Healthcare Innovation |language=en}} ==References== {{Reflist}} {{Portal bar|Arizona|Business}} {{Authority control}} Category:American companies established in 1969 Category:Health care companies established in 1969 Category:Health care companies based in Arizona Category:Psychiatric hospitals in the United States Category:1969 establishments in Georgia (U.S. state) Category:Companies that filed for Chapter 11 bankruptcy in 1992 Category:Companies formerly listed on the Nasdaq Category:Companies based in Phoenix, Arizona Category:American corporate subsidiaries Category:2022 mergers and acquisitions Category:Centene Corporation --- Adapted from the Wikipedia article [Magellan Health](https://en.wikipedia.org/wiki/Magellan_Health) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Magellan_Health?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.