Centene Completes Acquisition of Magellan Health
Today, Centene Corporation announced that it has completed the acquisition of Magellan Health, Inc. Through this transaction, we are establishing a leading behavioral health platform during a critical time through the COVID-19 pandemic.
“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.”
And the need for holistic, comprehensive health management only continues to grow as the pandemic continues.
In December 2020, the Government Accountability Office (GAO) stated in a new Government Accountability Office (GAO) report more than four out of 10 adults, 43 percent, suffered from anxiety or depression. In addition, the Centers for Disease Control and Prevention (CDC) 2021 study said 13 percent of adults responding to their survey admitted “having started or increased substance use to cope with stress or emotions related to COVID-19.”
As the nation’s largest managed health care organization, Centene is well-positioned to continue its focus on member-centered care – especially during this time of such great need and demand. The Magellan acquisition enables Centene to provide whole-health, integrated healthcare solutions to deliver better health outcomes at lower costs for complex, high-cost populations.
Centene remains focused on our commitment to shaping a better world of healthcare for our members, providers, state partners, employees, and the communities we serve as we lead the world to a healthier future. Magellan Health will operate independently under Centene’s Health Care Enterprises umbrella. Additional details regarding this transaction are available in this press release.