Magellan Health

Magellan Health Inc.

Company type	Subsidiary
Industry	Managed health care
Predecessor	Charter Medical
Founded	1969
Fate	Acquired by Centene Corporation in 2022
Headquarters	Scottsdale, Arizona , United States
Area served	United States
Products	Specialized populations, pharmacy benefit management, niche healthcare sectors
Owner	Centene Corporation

Magellan Health Inc. (previously known as Magellan Health Services Inc.) is a U.S.-based for-profit managed health care enterprise and a subsidiary of Centene Corporation. The company focuses on specialized populations, pharmacy benefit management, and other niche healthcare sectors. Utilizing advanced technology, Magellan aims to enhance healthcare accessibility while prioritizing essential personal connections to drive improved results. Its clientele encompasses health plans, managed care organizations, employers, labor unions, government bodies, and third-party administrators. In 2021, it was ranked 390 on the Fortune 500 list.

History

The company began as Charter Medical, a psychiatric hospital chain headquartered in Macon, Georgia. It filed for Chapter 11 bankruptcy in 1992 due to financial difficulties stemming from a management-led leveraged buyout in 1988.

Following its reorganization, the firm moved its headquarters to Atlanta in 1994 and acquired a controlling interest in Green Spring Health Services Inc., a managed care company located in Columbia, Maryland. Rebranding as Magellan Health Services, it expanded into behavioral health managed care by purchasing Human Affairs International and Merit Behavioral Care in 1997. The headquarters shifted to the former Green Spring facilities in Columbia by 1999, then relocated to Connecticut in 2004, and subsequently moved to Scottsdale, Arizona in 2014.

In 2018, Magellan divested its managed care segment to Molina Healthcare. On January 4, 2021, Centene Corporation announced its $2.2 billion acquisition of Magellan Health, which finalized on January 4, 2022.

Post-acquisition, Centene sold Magellan Rx to Prime Therapeutics and transferred ownership of Magellan Specialty Health to Evolent Health during 2022.