Molina Healthcare to acquire managed care company for $820M

Molina Healthcare entered into a definitive agreement to acquire a managed care unit within Magellan Health, the companies said April 30. 

Under the acquisition, Molina will acquire Magellan Complete Care for $820 million. The deal will bring Magellan's managed care operations across six states under the Molina umbrella. Magellan Complete Care serves 155,000 members and saw revenues of $2.7 billion in 2019.

The addition of Magellan Complete Care will grow Molina's membership in government-sponsored health plans to more than 3.6 million across 18 states. 

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