Centene Plans to Sell Magellan Rx, PANTHERx Rare for $2.8 Billion

Centene Corp. has agreed to sell two of its pharmacy businesses, Magellan Rx and PANTHERx Rare, in separate transactions as part of the insurer’s decision last year to exit the PBM industry.

Prime Therapeutics, a PBM jointly owned by 19 Blue Cross and Blue Shield affiliates, is acquiring Magellan Rx for about $1.35 billion in a deal that’s expected to close in the fourth quarter, while a joint venture of the Vistria Group, General Atlantic and Nautic Partners is buying PANTHERx Rare for $1.45 billion in a deal that’s expected to be completed in the next two to four months.

© 2022 MMIT
Jill Brown Kettler

Jill Brown Kettler Executive Editor

Jill oversees AIS Health’s publications and manages the health editorial staff. She joined AIS Health in 1999, and brings unique skills and energy to the company, along with an intelligent perspective on the forces reshaping the health care industry. She holds a graduate degree in health finance and management from Johns Hopkins University School of Public Health, and was formerly a consultant with Arthur Andersen, where she worked with managed care plans, hospitals and medical groups on financial issues impacting their operations.

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