Magellan Health Inc. (formerly Magellan Health Services Inc.), is an American for-profit

managed health care In the United States, managed care or managed healthcare is a group of activities intended to reduce the cost of providing health care and providing health insurance while improving the quality of that care. It has become the predominant system o ...

company and

subsidiary A subsidiary, subsidiary company, or daughter company is a company (law), company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidia ...

Centene Centene Corporation is an American for-profit healthcare company based in St. Louis, Missouri, which is an intermediary for government-sponsored and privately insured healthcare programs. Centene ranked No. 25 on the 2023 Fortune 500. History ...

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 A government agency or state agency, sometimes an appointed commission, is a permanent or semi-permanent organization in the machinery of government (bureaucracy) that is responsible for the oversight and administration of specific functions, s ...

and third-party administrators. It ranked 390 on the

Fortune 500 The ''Fortune'' 500 is an annual list compiled and published by ''Fortune (magazine), Fortune'' magazine that ranks 500 of the largest United States Joint-stock company#Closely held corporations and publicly traded corporations, corporations by ...

in 2021.

History

The company began as the

psychiatric hospital A psychiatric hospital, also known as a mental health hospital, a behavioral health hospital, or an asylum is a specialized medical facility that focuses on the treatment of severe Mental disorder, mental disorders. These institutions cater t ...

chain Charter Medical, headquartered in

Macon, Georgia Macon ( ), officially Macon–Bibb County, is a consolidated city-county in Georgia (U.S. state), Georgia, United States. Situated near the Atlantic Seaboard fall line, fall line of the Ocmulgee River, it is southeast of Atlanta and near the ...

. In 1992, the company filed for

Chapter 11 bankruptcy Chapter 11 of the United States Bankruptcy Code ( Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, w ...

, stemming from debt incurred as a result of the 1988 management-led takeover. After recovering from bankruptcy, it moved its headquarters to

Atlanta Atlanta ( ) is the List of capitals in the United States, capital and List of municipalities in Georgia (U.S. state), most populous city in the U.S. state of Georgia (U.S. state), Georgia. It is the county seat, seat of Fulton County, Georg ...

in 1994. Acquiring a major stake in Green Spring Health Services Inc., a managed care company based in

Columbia, Maryland Columbia is a planned community in Howard County, Maryland, United States, consisting of 10 self-contained villages. With a population of 104,681 at the 2020 United States census, 2020 census, it is the second-most-populous community in Maryland ...

, the company re-structured into a new holding company, changing its name to Magellan Health Services. In 1997, Magellan entered the behavioral health managed care business by acquiring Human Affairs International and Merit Behavioral Care. In 1999 the company moved to Green Spring's old headquarters in

. In 2004, the company headquarters moved to

Connecticut Connecticut ( ) is a U.S. state, state in the New England region of the Northeastern United States. It borders Rhode Island to the east, Massachusetts to the north, New York (state), New York to the west, and Long Island Sound to the south. ...

. In 2014, the company moved its headquarters from Connecticut to

Arizona Arizona is a U.S. state, state in the Southwestern United States, Southwestern region of the United States, sharing the Four Corners region of the western United States with Colorado, New Mexico, and Utah. It also borders Nevada to the nort ...

. Magellan sold its managed care division to

Molina Healthcare Molina Healthcare, Inc. is a managed care company headquartered in Long Beach, California, United States. The company provides health insurance to individuals through government programs such as Medicaid and Medicare. History Molina Healthcar ...

in 2018. On January 4, 2021, it was announced

Centene Corporation Centene Corporation is an American for-profit healthcare company based in St. Louis, Missouri, which is an intermediary for government-sponsored and privately insured healthcare programs. Centene ranked No. 25 on the 2023 Fortune 500. History ...

would acquire the company for $2.2 billion. On January 4, 2022, the acquisition was completed. Centene divested Magellan Rx in 2022 to Prime Therapeutics. Centene announced the sale of Magellan Specialty Health to Evolvent Health in 2022.

References

{{Authority control American companies established in 1969 Health care companies established in 1969 Health care companies based in Arizona Psychiatric hospitals in the United States 1969 establishments in Georgia (U.S. state) Companies that filed for Chapter 11 bankruptcy in 1992 Companies formerly listed on the Nasdaq Companies based in Phoenix, Arizona American corporate subsidiaries 2022 mergers and acquisitions Centene Corporation