Kalpana Kalpana (Editor)

Magellan Health

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Covid-19
Type  Public
Founded  1969
Industry  Managed health care
Revenue  3.76 billion USD (2014)
Magellan Health httpswwwmagellanprovidercomMHSMGLimagesho
Traded as  NASDAQ: MGLN S&P 600 Component
Net income  US$74.231 Million (FY 2014)
Total assets  US$2.094 Billion (FY 2014)
Headquarters  Columbia, Maryland, United States
Stock price  MGLN (NASDAQ) US$ 67.85 +0.55 (+0.82%)17 Mar, 4:00 PM GMT-4 - Disclaimer
CEO  Barry M Smith (1 Jan 2013–)
Subsidiaries  Magellan Behavioral Health Inc
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Magellan health


Magellan Health Inc. (formerly Magellan Health Services Inc.), is an American for-profit managed health care company, focused on behavioral healthcare. It ranked 652 on the Fortune 1000 in 2014.

Contents

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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 1988 management-led takeover.

After recovering from bankruptcy, it moved its headquarters to Atlanta in 1994. 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. In 1999 the company moved to Green Spring's old headquarters in Columbia, Maryland. In 2004, the company headquarters moved to Connecticut. In 2014, the company moved its headquarters from Connecticut to Scottsdale, Arizona.

Acquisitions

In 1997 Magellan acquired Merit Behavioral Care Corporation, a company which provided mental health and substance abuse services, for $460 million in cash.

References

Magellan Health Wikipedia


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