Under the acquisition, Molina will acquire Magellan Complete Care for $820 million. The deal will bring Magellan’s managed care operations across six states under the Molina umbrella. Magellan Complete Care serves 155,000 members and saw revenues of $2.7 billion in 2019.
The addition of Magellan Complete Care will grow Molina’s membership in government-sponsored health plans to more than 3.6 million across 18 states.
More articles on payers:
Insurers extending prior authorizations for elective services
Insurers entitled to billions in risk corridors payments, SCOTUS says
These 7 top payer CEOs collectively made $151M in 2019
At the Becker's 5th Annual Fall Payer Issues Roundtable, taking place November 2–3 in Chicago, payer executives and healthcare leaders will come together to discuss value-based care, regulatory changes, cost management strategies and innovations shaping the future of payer-provider collaboration. Apply for complimentary registration now.
