Centene Expands Further Into Pharmacy With Magellan Deal
In addition to creating “one of the nation’s largest behavioral health platforms,” Centene Corp. will add another pharmacy-related asset to its portfolio with its recently announced $2.2 billion proposed purchase of Magellan Health, Inc.
The deal, unveiled on Jan. 4, will deliver 2 million PBM members and 16 million medical pharmacy lives to Centene, which already has a variety of internal and external PBM relationships. And while those pharmacy lives are just a slice of the transaction compared with the behavioral health and specialty health assets that Centene will get by purchasing Magellan, they are a key part of the strategic rationale for the deal.
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