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.
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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.
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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
External links
Source of the article : Wikipedia
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