MGLN on NASDAQ

Magellan Health

Logo: Magellan Health Services, Public domain, via Wikimedia Commons4

Managed health care company

Magellan Health Inc. (formerly Magellan Health Services Inc.), is an American for-profit managed health care company and subsidiary of Centene that focuses on special populations and other specialty areas of healthcare.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

1969Founded1

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  • TickerMGLN on NASDAQ1
  • Industrymanaged care1
  • HeadquartersScottsdale1
  • Websitewww.magellanhealth.com
  • Incorporated inDE5
  • Business address4801 E. Washington St, Phoenix, Az 850345
  • Filer categoryLarge accelerated filer5

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Magellan Health Inc. (formerly Magellan Health Services Inc.), is an American for-profit managed health care company and subsidiary of Centene that focuses on special populations and other specialty areas of healthcare. Magellan's customers include health plans and other managed care organizations, employers, labor unions, various military and governmental agencies and third-party administrators. It ranked 390 on the Fortune 500 in 2021.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2020

3.1%Gross margin6
8.4%Net margin6
0.3%Revenue growth, 20206
20.4%Return on equity6
$375.3MFree cash flow6

Where the money goes

Where each dollar of revenue went, fiscal 2020

  • Cost of revenue48¢$2.2B
  • Other costs42¢$1.9B
  • Interest1¢$30.9M
  • Income tax1¢$44.5M
  • Profit8¢$382.3M

Out of $4.6B in revenue.6

Where each dollar of operating cash went, fiscal 2020

  • Capital spending17¢$75.5M
  • Kept or used elsewhere83¢$375.3M

Out of $450.8M of cash from operations.6

Financial statements

Revenue7896$4.6B in 2020+22% since 2014
0$2.0B$4.0B$6.0B$8.0B2014: $3.8B$3.8B20142015: $4.6B$4.6B2015+22%2016: $4.8B$4.8B2016+5%2017: $5.8B$5.8B2017+21%2018: $7.3B$7.3B2018+25%2019: $4.6B$4.6B2019−38%2020: $4.6B$4.6B2020+0%
Gross profit789106$144.0M in 2020−46% since 2014
0$100.0M$200.0M$300.0M$400.0M2014: $266.9M$266.9M20142015: $275.7M$275.7M2015+3%2016: $301.8M$301.8M2016+9%2017: $310.9M$310.9M2017+3%2018: $206.3M$206.3M2018−34%2019: $185.8M$185.8M2019−10%2020: $144.0M$144.0M2020−23%
Net income789106$382.3M in 2020+382% since 2014
0$100.0M$200.0M$300.0M$400.0M2014: $79.4M$79.4M20142015: $31.4M$31.4M2015−60%2016: $77.9M$77.9M2016+148%2017: $110.2M$110.2M2017+42%2018: $24.2M$24.2M2018−78%2019: $55.9M$55.9M2019+131%2020: $382.3M$382.3M2020+584%
Fiscal year2014201520162017201820192020
Revenue$3.8B7$4.6B8$4.8B9$5.8B9$7.3B9$4.6B6$4.6B6
Cost of revenue$732.9M7$1.3B8$1.8B9$2.2B10$2.5B6$2.1B6$2.2B6
Gross profit$266.9M7$275.7M8$301.8M9$310.9M10$206.3M6$185.8M6$144.0M6
Interest$7.4M7$6.6M8$10.2M9$26.0M10$35.2M6$35.9M6$30.9M6
Income tax$43.7M7$42.4M8$69.7M9$25.1M10$11.5M6$9.2M6-$44.5M6
Net income$79.4M7$31.4M8$77.9M9$110.2M10$24.2M6$55.9M6$382.3M6
Earnings per share$2.987$1.268$3.369$4.7210$0.996$2.316$15.146
Earnings per share (diluted)$2.907$1.218$3.229$4.5110$0.976$2.276$14.986

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How it started

History

The company began as the psychiatric hospital chain Charter Medical, headquartered in Macon, Georgia. In 1992, the company filed for Chapter 11 bankruptcy, stemming from debt incurred as a result of the 1988 management-led takeover.

After recovering from bankruptcy, it moved its headquarters to Atlanta in 1994. Acquiring a major stake in Green Spring Health Services Inc., a managed care company based in Columbia, Maryland, the company re-structured into a new holding company, changing its name to Magellan Health Services. In 1997, Magellan entered the behavioral health managed care business by acquiring Human Affairs International and Merit Behavioral Care. In 1999 the company moved to Green Spring's old headquarters in Columbia, Maryland. In 2004, the company headquarters moved to Connecticut. In 2014, the company moved its headquarters from Connecticut to Arizona.

Magellan sold its managed care division to Molina Healthcare in 2018. On January 4, 2021, it was announced Centene Corporation would acquire the company for $2.2 billion. On January 4, 2022, the acquisition was completed.

Centene divested Magellan Rx in 2022 to Prime Therapeutics. Centene announced the sale of Magellan Specialty Health to Evolvent Health in 2022.

From Wikipedia’s article on Magellan Health, shared under CC BY-SA 4.0.3

Former names

  • MAGELLAN HEALTH SERVICES INCFeb 26, 1996 to Jul 1, 20145
  • CHARTER MEDICAL CORPJan 18, 1994 to Feb 14, 19965

Timeline

  1. 1969Founded Founded1

Recent filings

  1. Jan 4, 20228-K
  2. Jan 4, 20224 FORM 4 SUBMISSION
  3. Jan 4, 20224 FORM 4 SUBMISSION
  4. Jan 4, 20224 FORM 4 SUBMISSION
  5. Jan 4, 20224 FORM 4 SUBMISSION
  6. Jan 4, 20224 FORM 4 SUBMISSION
  7. Jan 4, 20224 FORM 4 SUBMISSION
  8. Jan 4, 20224 FORM 4 SUBMISSION
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  10. Jan 4, 20224 FORM 4 SUBMISSION
  11. Jan 4, 20224 FORM 4 SUBMISSION
  12. Jan 4, 20224 FORM 4 SUBMISSION
  13. Jan 4, 20224 FORM 4 SUBMISSION
  14. Jan 4, 20224 FORM 4 SUBMISSION
  15. Jan 4, 20224 FORM 4 SUBMISSION

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2

Sources

The numbers on this page point here. Each one links to the record it came from.

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