Phoenix-based behavioral health insurer Magellan Health ranked among payers on this year's Fortune 500 list, having generated $7.5 billion in revenue in 2020.
Five things to know about the company:
- Magellan Health is led by CEO Kenneth Fasola, COO James Murray, CFO David Bourdon and CMO Caroline Carney, MD.
- CVS Health CEO Karen Lynch previously held an executive role at Magellan.
- On Jan. 4, Centene announced it would acquire Magellan for $2.2 billion. The deal is expected to be finalized in the second half of this year.
- The payer experienced a data breach in the last year that affected 1,013,956 patients.
- In March, a judge granted Magellan's request to dismiss allegations that the company had improperly denied coverage for mental healthcare.