{{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 | traded_as = {{NASDAQ was|MGLN}} | foundation = {{Start date and age|1969}}<ref name="2014 10-K">{{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}}</ref> | location = Phoenix, Arizona, United States | key_people = Derrick A. Duke (CEO) | num_employees = 9,092<ref>{{Cite web|url=https://www.magellanhealth.com/about/about-magellan-health/|title=Magellan Health|website=Fortune|access-date=2018-12-31}}</ref> | num_employees_year = 2021 | industry = Managed health care | products = | revenue = {{increase}} US$ 4.6 billion <small>(''FY 2020'')</small> <ref name="2020 Annual Report">[https://ir.magellanhealth.com/news-releases/news-release-details/magellan-health-reports-2020-financial-results Magellan Health Reports 2020 Financial Results]</ref> | net_income = {{decrease}} US$ 4.0 million <small>(''FY 2020'')</small> <ref name="2020 Annual Report"/> | assets = {{Increase}} US$ 1.14 billion <small>(''FY 2020'')</small> <ref name="2020 Annual Report"/> | parent = 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 company and subsidiary of 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 and third-party administrators. It ranked 390 on the Fortune 500 in 2021.<ref name="Fortune2014">{{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}}</ref>
== History == 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.<ref name="Bankrupt1992">{{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}}</ref>
After recovering from bankruptcy, it moved its headquarters to Atlanta in 1994.<ref name="HQAtlanta">{{cite news | title=Headquarters will move to Atlanta | work=The Atlanta Journal and Constitution | date=29 June 1994 }}</ref> 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.<ref name="ManagedCareATL">{{cite news | title=Charter to expand into managed care | work=The Atlanta Journal and Constitution | date=20 October 1995 }}</ref> In 1997, Magellan entered the behavioral health managed care business by acquiring Human Affairs International and Merit Behavioral Care.<ref>{{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}}</ref> In 1999 the company moved to Green Spring's old headquarters in Columbia, Maryland.<ref name="MagellanToMaryland">{{cite news | title=Magellan will move offices to Maryland | work=The Atlanta Journal and Constitution | date=22 May 1999 | author=Miller, Andy | pages=1H}}</ref> In 2004, the company headquarters moved to Connecticut. In 2014, the company moved its headquarters from Connecticut to Arizona.<ref>{{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 }}</ref>
Magellan sold its managed care division to Molina Healthcare in 2018.<ref>{{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}}</ref> On January 4, 2021, it was announced Centene Corporation would acquire the company for $2.2 billion.<ref>{{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}}</ref> On January 4, 2022, the acquisition was completed.<ref>{{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|language=en |access-date=2022-01-04 |date=2022-01-04}}</ref>
Centene divested Magellan Rx in 2022 to Prime Therapeutics.<ref>{{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=}}</ref> Centene announced the sale of Magellan Specialty Health to Evolvent Health in 2022.<ref>{{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}}</ref>
==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