The acquisition enables Centene to provide whole-health, integrated healthcare solutions to deliver better health outcomes at lower costs for complex, high-cost populations.
“Magellan will expand Centene’s reach to provide increased access to behavioral healthcare for our members at a time when so many Americans are struggling with mental or behavioral health issues,” said Michael Neidorff, Chairman and Chief Executive Officer of Centene. “This transaction establishes a strong foundation from which we will innovate and reimagine behavioral and specialty health to provide comprehensive and integrated healthcare to our members, while generating value for our state partners and shareholders.”
Magellan Health will operate independently under Centene’s Health Care Enterprises umbrella. Ken Fasola, CEO of Magellan Health, and other members of Magellan Health’s leadership team will continue to lead the organization.
Magellan Health common stock ceased trading prior to the opening of trading on January 4, 2022.