Sep. 9, 2013, 4:05 PM
- Magellan Health Services (MGLN) acquires Partners Rx for $100M, in an ongoing effort to expand its pharmacy benefits management offerings.
- Partners Rx is a company with more than 300K covered lives, focuses on health plans and self-funded employers and sells primarily through third-party administrators, consultants and brokers. It has anticipated 2013 revenue of around $240M.
- The deal is expected to close in Q4.
- Once the deal closes, Partners CEO Robert W. Field will also become CEO of unit Magellan Pharmacy Solutions.
Aug. 13, 2013, 12:13 PM
- Magellan Health Services (MGLN -1.4%) slips this morning after announcing that it's investing another $17.5M in AlphaCare of New York, a newly licensed Medicaid Managed Long Term Care HMO and Medicare Plan.
- MGLN previously made a $2M equity investment in AlphaCare, in tandem with a $6M loan to AlphaCare Holdings.
- The latest round brings its total investment in the company to $25.5M, representing a 65% stake in the company after the deal closes.
Jul. 20, 2012, 2:07 PMConsolidation in the health care sector continues to be the story today, as Magellan Health (MGLN) gains another 3.6% - on the back of yesterday's +8% pop - after saying it's been working with Credit Suisse for months exploring strategic alternatives, including a potential sale. Speculation is that the sale process is now at an advanced stage. | Comment!
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