SCOTTSDALE, Ariz.--(BUSINESS WIRE)--May 21, 2018--
Magellan
Health, Inc. (NASDAQ: MGLN) today announced that it has been named
to the annual Fortune 500 list of America’s largest corporations by
revenue for the first time in the company’s history. This year marks the
64th running of the list which began in 1955. Fortune
announced the selection of Magellan Health, and other companies, here.
“It is such an honor for all of us at Magellan to be among this list of
impressive and innovative companies that represent the very best in
America,” said Barry M. Smith, chairman and chief executive officer of
Magellan Health. “At Magellan, we will continue to innovate and
introduce products that resonate, disrupt the industry and continue to
make a difference in people’s lives.”
Magellan is a leader in managing complex population health,
concentrating on all areas across healthcare and pharmaceutical
management. With over 10,000 employees and a 2017 revenue of $5.8
billion, Magellan’s consumer-centric model of care achieves improved
outcomes by integrating healthcare across physical, behavioral and
pharmaceutical services. Magellan also manages the highest trend
components of healthcare expenditures using agile, clinically based
technology and applying advanced analytics in its development of
next-generation solutions.
Magellan has also differentiated itself in the specialty drug management
space. Today, roughly half the total pharmacy spend is driven by
specialty drugs, with half of that specialty spend covered under medical
benefits, which is typically unmanaged by pharmacy benefit managers or
health plans. The company has pioneered innovative strategies to tackle
the high-trend areas of specialty and medical pharmaceuticals and
continues to offer high-touch clinical programs focused on improved
outcomes and value.
“This recognition speaks to the dedication of our associates who serve
our members and customers each day with a focus on leading humanity to
healthy, vibrant lives,” said Smith. “We are unique in our model of care
that’s both high-touch and high-tech, supported by an innovative and
inclusive culture.”
According to Fortune, in 2018 companies on the 500 list represent
two-thirds of the U.S. GDP with $12.8 trillion in revenues, $1.0
trillion in profits, $21.6 trillion in market value, and employ 28.2
million people worldwide.
About Magellan Health: 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
supports innovative ways of accessing better health through technology,
while remaining focused on the critical personal relationships that are
necessary to achieve a healthy, vibrant life. 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.
MGLN-GEN
View source version on businesswire.com: https://www.businesswire.com/news/home/20180521005648/en/
Source: Magellan Health, Inc.
Magellan Health, Inc.
Media Contact:
Lilly Ackley,
860-507-1923
ackleyl@magellanhealth.com
or
Investor
Contact:
Joe Bogdan, 860-507-1910
jbogdan@magellanhealth.com