Centene announced Nov. 17 it is selling Magellan Specialty Health, the latest in a number of deals the health insurer has made throughout 2022.
Here are five of biggest deals Centene has made this year:
1. Centene completed its $2.2 billion acquisition of Phoenix-based behavioral health provider Magellan Health. The move made Centene one of the largest behavioral health providers in the country, serving 41 million members. It also expands the payer's government plan and pharmacy membership.
2. Centene announced May 5 it plans to sell Magellan RX to Prime Therapeutics. Centene acquired the specialty drug management, Medicaid administration and pharmacy benefits management company in January as part of its Magellan Health acquisition. The sale is expected to close in the fourth quarter of 2022.
3. Centene completed the sale of its specialty and rare drug pharmacy Pantherx to Vistria Group, General Atlantic and Nautic Partners on July 14. Centene had purchased Pantherx in December 2020. It first announced the deal in May along with the separate sale of Magellan Rx to Prime Therapeutics. The two deals are worth a total of $2.8 billion.
4. Centene said Nov. 17 it is selling Magellan Specialty Health to healthcare administration company Evolent Health in a deal worth up to $750 million. Centene acquired Magellan Specialty Health in January as part of its acquisition of Magellan Health. Evolent and Centene will launch a multiyear partnership upon the closing of the deal on the specialty benefit management company.
5. Centene completed the sale of its Spanish and Central European businesses to Vivalto Santé on Nov. 17. The payer first announced in July that it had entered an agreement to sell the three businesses to the French private hospital group.