Frisco, Texas-based Magellan Health has entered into an agreement to be acquired by Madison Health Group, according to a Feb. 13 LinkedIn post from Magellan.
Magellan Health CEO Caroline Carney, MD, will continue to lead the company. The transaction will allow Magellan to operate as an independent managed behavioral healthcare company, the investment group said. The deal is subject to customary closing conditions and regulatory approvals.
Magellan said its evidence-based clinical programs — including services for foster children, carve-out services, crisis services, autism care, behavioral health prescribing, complex and high-acuity behavioral health management and services to active-duty military and federal agencies — will remain in place.
If the deal closes, Magellan plans to expand its clinical programs into new markets with enhanced technology, AI, data and analytical solutions.
Magellan was acquired by Centene in January 2021 in a deal valued at $2.2 billion.
