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News Breaks
December 31, 2012
10:04 EDTMGLNMagellan falls after announcing loss of key customer
Magellan Health Services (MGLN) is retreating after it announced earlier today in a regulatory filing that it would lose a significant customer, starting in January 2014. Specifically, a health insurer that had used Magellan to manage its behavioral health services has decided not to renew its deal with Magellan. The latter company had obtained about $144.5M in revenue in the nine months ended September 30 from the contract, which expires on December 31, 2013, Magellan stated. In early trading, Magellan sank $2.19, or 4.23%, to $49.56.
News For MGLN From The Last 14 Days
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June 18, 2015
07:38 EDTMGLNLeerink to hold a roundtable
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June 17, 2015
12:13 EDTMGLNMagellan Health receives NOI to extend Iowa Medicaid contract through Dec. 31
Magellan Health said in a regulatory filing that on June 17, the company received a notice of intent to extend the Iowa Medicaid Contract through December 31, to coincide with the start date of new Iowa High Quality Healthcare Initiative. On February 16the Iowa Department of Human Services released the Iowa High Quality Healthcare Initiative Request for Proposal. The Agency intends to contract on a statewide basis with two to four managed care plan bidders with a demonstrated capacity to coordinate care and provide a full range of managed care services and quality outcomes for the state’s entire Medicaid and Children’s Health Insurance Program populations. The program will enroll the majority of the Iowa Medicaid and CHIP populations and will also provide services for individuals qualifying for Iowa Department of Public Health funded substance abuse services. The anticipated start of the contract is January 1, 2016 for an initial period of three years and the ability for the Agency to extend the contract for two additional two year terms. The RFP includes the services provided by the company’s current Iowa Contracts. The company has submitted a bid on this RFP. There can be no assurance that the company will be awarded a contract pursuant to the RFP, or that the terms of any contract awarded pursuant to the RFP will be similar to the current Iowa Contracts.

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