Magellan Health (NASDAQ:MGLN) +15.2% after-hours on news that Molina Healthcare (NYSE:MOH) agrees to acquire the Magellan Complete Care line of business for $820M, net of certain tax benefits.
Magellan Complete Care served 155K members in six states, and amassed more than than $2.7B in revenues in 2019.
With the addition of MCC, Molina will serve more
than 3.6M members in government-sponsored healthcare programs in 18
states and have 2020 pro-forma projected revenue of more than $20B.
The announcement was separate from Molina’s reported Q1 earnings, which edged analyst expectations.
https://seekingalpha.com/news/3567433-molina-to-buy-magellan-complete-care-for-820m
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.