Magellan Health
 | |
| Company type | Public |
|---|---|
| Nasdaq: MGLN S&P 600 Component | |
| Industry | Managed health care |
| Founded | 1969[1] |
| Headquarters | Scottsdale, Arizona, United States |
| Revenue |  US$5.838 Billion (FY 2017) [2] |
 US$110.141 Million (FY 2017) [3] | |
| Total assets | US$1.483 Billion (FY 2017) [4] |
Number of employees | 10,700 |
| Website | www.magellanhealth.com |
Magellan Health Inc. (formerly Magellan Health Services Inc.), is an American for-profit managed health care company, focused on behavioral healthcare. It ranked 475 on the Fortune 500 in 2018.[5]
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.[6]
After recovering from bankruptcy, it moved its headquarters to Atlanta in 1994.[7] 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.[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 Scottsdale, Arizona.[10]
Acquisitions
In 1997 Magellan acquired Merit Behavioral Care Corporation, a company which provided mental health and substance abuse services, for $460 million in cash.[11]
References
- ^ "Form 10-K: Magellan Health, Inc". Securities and Exchange Commission. Retrieved 24 May 2015.
- ^ https://magellanhealthinc.gcs-web.com/static-files/78b697b7-33f5-4cf6-982c-8df51efefa30
- ^ https://magellanhealthinc.gcs-web.com/static-files/78b697b7-33f5-4cf6-982c-8df51efefa30
- ^ https://magellanhealthinc.gcs-web.com/static-files/78b697b7-33f5-4cf6-982c-8df51efefa30
- ^ "Magellan Health". Fortune. Retrieved 24 May 2015.
{{cite web}}: Cite has empty unknown parameter:|dead-url=(help) - ^ "Charter Medical Corp. files bankruptcy plan". Ocala Star-Banner. 4 Jun 1992. Retrieved 24 May 2015.
- ^ "Headquarters will move to Atlanta". The Atlanta Journal and Constitution. 29 June 1994.
- ^ "Charter to expand into managed care". The Atlanta Journal and Constitution. 20 October 1995.
- ^ Miller, Andy (22 May 1999). "Magellan will move offices to Maryland". The Atlanta Journal and Constitution. pp. 1H.
- ^ Magellan Health To Move Headquarters From Avon To Arizona
- ^ "Magellan Health Services and Merit Behavioral Care Corp. announce merger agreement" (Press release). PR Newswire. 27 Oct 1997.
External links
 | This corporation or company article is a stub. You can help Wikipedia by expanding it. |