Last $55.86 USD
Change Today +0.26 / 0.47%
Volume 138.7K
MGLN On Other Exchanges
As of 8:10 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

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07/3/14 - $63.81
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magellan health inc (MGLN) Details

Magellan Health, Inc. is engaged in the healthcare management business in the United States. The company, through its contracted network of third-party treatment providers, offers managed behavioral healthcare services, including outpatient programs, such as counseling or therapy; intermediate care programs comprising intensive outpatient programs and partial hospitalization services; and inpatient treatment and crisis intervention services. It also offers specialty solutions, such as the delivery of diagnostic imaging and other various specialty areas, such as radiation oncology, obstetrical ultrasound, cardiology, and pain management, including spine surgery and musculoskeletal management. The company provides specialty solutions under contracts with health plans and insurance companies for its commercial, Medicaid, and Medicare members. In addition, it offers pharmacy management products and solutions that provide clinical and financial management of drugs paid under medical and pharmacy benefit programs, including traditional pharmacy benefit management; pharmacy benefit administration for state Medicaid and other government sponsored programs; specialty pharmaceutical dispensing operations, and contracting and formulary optimization programs; medical pharmacy management programs; and programs for the management of drugs that treat complex conditions. Magellan Health, Inc. provides its services to health plans, managed care organizations, insurance companies, employers, labor unions, various military and governmental agencies, third party administrators, and brokers. The company was formerly known as Magellan Health Services, Inc. and changed its name to Magellan Health, Inc. in June 2014. Magellan Health, Inc. was founded in 1969 and is based in Avon, Connecticut.

5,949 Employees
Last Reported Date: 03/3/14
Founded in 1969

magellan health inc (MGLN) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $900.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $480.6K
Chief Executive Officer of National Imaging A...
Total Annual Compensation: $437.8K
Executive Vice President, Secretary and Gener...
Total Annual Compensation: $417.1K
Chief Human Resources Officer
Total Annual Compensation: $329.5K
Compensation as of Fiscal Year 2013.

magellan health inc (MGLN) Key Developments

Magellan Health, Inc. Names Dr. Karen Amstutz as Chief Medical Officer

Magellan Health, Inc. announced that Dr. Karen Amstutz has been named as the company's chief medical officer, responsible for setting the strategic roadmap and vision for Magellan's clinical strategy and policy. Amstutz, who will report to Barry M. Smith, chairman and chief executive officer, will begin on September 15, 2014 and will be based in Scottsdale, Ariz. Amstutz comes to Magellan from Evolent Health, where she was vice president of medical affairs, responsible for clinical effectiveness and operations for population health implemented in large health systems across the country.

Magellan Complete Care of Florida Expands Services to Members in Regions Seven and Nine

Magellan Complete Care of Florida, part of Magellan Health Inc. expanded its services to members in regions seven and nine, encompassing Orlando, Palm Beach and surrounding areas. Magellan Complete Care of Florida, the first and only Medicaid specialty plan in the country for individuals living with Serious Mental Illness (SMI), launched in regions 10 and 11 on July 1, which includes Monroe, Miami-Dade and Broward counties.

Magellan Health, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Reaffirms Earnings Guidance for the Full Year 2014

Magellan Health, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net income attributable to the company of $4,986,000 or $0.18 per diluted share on total net revenues of $888,014,000 compared to net income of $31,480,000 or $1.15 per diluted share on total net revenues of $842,748,000 a year ago. Income before income taxes was $10,588,000 compared to $53,066,000 a year ago. Adjusted net income was $11,030,000 or $0.39 per share against $31,480,000 or $1.15 per share for the same period a year ago. For the six months period, the company reported net income attributable to the company of $30,706,000 or $1.10 per diluted share on total net revenues of $1,854,489,000 compared to net income of $59,538,000 or $2.17 per diluted share on total net revenues of $1,664,509,000 a year ago. Income before income taxes was $60,581,000 compared to $100,234,000 a year ago. Net cash provided by operating activities was $137,051,000 compared to $86,909,000 a year ago. Capital expenditures were $32,007,000 compared to $27,035,000 a year ago. Adjusted net income was $38,336,000 or $1.37 per share against $59,538,000 or $2.17 per share for the same period a year ago. The company reaffirmed its 2014 guidance ranges for full-year net income of $53 million to $69 million, segment profit of $238 million to $258 million, and cash flow from operations of $204 million to $226 million, excluding the net shift of restricted funds between cash and investments. The company updated its guidance for diluted earnings per share to a range of $1.90 to $2.47 per share, based on updated fully diluted shares 27.9 million. This updated share amount reflects share repurchases and option exercises through the close of business on July 21, 2014, but excludes any potential activity that may occur during the remainder of the year. The company also reaffirmed its 2014 guidance range for full-year adjusted net income of $74.5 million to $92.5 million, which results in adjusted earnings per share of $2.67 to $3.32.


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