SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Magellan Health, Inc. (NASDAQ:MGLN), a leader in complex care and special population management, today announced that it has completed its acquisition of Armed Forces Services Corporation (AFSC), a company with extensive experience providing and managing behavioral health and specialty services to various agencies of the federal government, including all five branches of the U.S. Armed Forces.
“Coupling Magellan’s clinical expertise with AFSC’s extensive network within the military and other federal agencies, this acquisition will enable us to expand our behavioral health, wellness and integrated care offerings and services in this important area,” said Sam K. Srivastava, chief executive officer of Magellan Healthcare. “This acquisition also allows us to expand our work in suicide prevention and programs that assist in post-traumatic stress disorder to help members of the military and federal workers live healthier lives.”
AFSC holds approximately 60 contracts with the federal government, and has 1,800 employees and subcontractors, with operations in all 50 states, three territories and eight countries. AFSC manages and provides a variety of behavioral health services including life coaching, counseling, training, rehabilitation, transition assistance, recruitment and retention, and family programs.
Magellan will update its 2016 guidance to include the impact of the acquisition on its next earnings call on July 29, 2016.
About Magellan Health: Headquartered in Scottsdale, Ariz., Magellan Health, Inc. is a leader in managing the fastest growing, most complex areas of health, including special populations, complete pharmacy benefits and other specialty areas of healthcare. Magellan develops innovative solutions that combine advanced analytics, agile technology and clinical excellence to drive better decision making, positively impact health outcomes and optimize the cost of care for the members we serve — all within a customer-first culture. Magellan’s customers include health plans and other managed care organizations, employers, labor unions, various military and governmental agencies and third-party administrators. For more information, visit MagellanHealth.com.
