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4-Traders Homepage  >  Equities  >  Nasdaq  >  Magellan Health Inc    MGLN

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Magellan Health : Continues to Develop Digital Therapies through Enhanced Collaboration with Click Therapeutics

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08/15/2017 | 12:31pm CEST

Magellan leveraging industry-leading therapeutic apps in new markets via FDA clearance to help people with insomnia, substance abuse, depression and anxiety

Magellan Health (NASDAQ: MGLN), recognized as a leading provider of software-based tools to increase the integration of and access to behavioral health treatment, continues to develop digital therapies by expanding its collaboration with Click Therapeutics to pursue a new avenue: Food and Drug Administration (FDA) clearance for therapeutic apps. Click will leverage Magellan’s portfolio of software programs and associated intellectual property and data to create mobile apps for people challenged by conditions such as insomnia, substance abuse, depression and anxiety and apply for FDA clearance for such apps on the basis of valid scientific evidence supporting the safety and effectiveness of the software. This augments Magellan’s work to provide broad-based, digital and data-driven programs for primary care and specialty care providers.

“This collaboration is a great example of how Magellan is utilizing its industry-leading capabilities to provide healthcare solutions to people in a convenient and personalized way,” said Barry M. Smith, chairman and chief executive officer of Magellan Health. “Click has a similar interest in the market, and both companies have complementary skill sets. I’m excited to continue our work together.”

“Using the industry-leading suite of intellectual property and data from Magellan’s existing software, integrated with Click’s leading patient engagement platform, Click will seek regulatory clearance from the FDA to provide indication-specific prescription digital therapies,” said David Benshoof Klein, chief executive officer of Click Therapeutics. “We appreciate Magellan’s innovative spirit and focus on helping people address common mental health challenges in a personalized and convenient way, and are excited to leverage Magellan’s vast coverage and reimbursement expertise to make digital therapeutics widely accessible to commercial and government health insurance beneficiaries.”

Last year, Magellan launched a tobacco cessation program with Click Therapeutics leveraging Magellan’s clinical coaching and pharmacy benefit management (PBM) capabilities with Click’s technology and machine learning platform, including the mobile application, CLICKOTINE®, to create an all-in-one solution.

Magellan’s computerized cognitive behavioral therapy (CCBT) modules have undergone numerous clinical trials in which they have matched, and in some instances exceeded, those reached by conventionally delivered cognitive behavioral therapy. In addition, Cobalt has received the highest rating from the Substance Abuse and Mental Health Administration’s (SAMHSA) National Registry of Evidence-based Programs and Practices (NREPP).

About Click Therapeutics: Click Therapeutics, Inc. engineers, validates, and commercializes Digital Therapeutics™ solutions to benefit people with unmet medical needs through cognitive and neurobehavioral modification. Click Therapeutics™ digital interventions enable change within individuals, and can be used independently or in conjunction with biomedical treatments. The Clickometrics® adaptive data science platform continuously personalizes user experience to drive cognitive and behavioral outcomes. As the leader in Digital Therapeutics™ solutions, Click Therapeutics is building the brains behind digital health. For more information, visit ClickTherapeutics.com.

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.


© Business Wire 2017
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Financials ($)
Sales 2017 5 796 M
EBIT 2017 182 M
Net income 2017 90,6 M
Debt 2017 -
Yield 2017 -
P/E ratio 2017 20,93
P/E ratio 2018 16,63
Capi. / Sales 2017 0,32x
Capi. / Sales 2018 0,26x
Capitalization 1 863 M
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Magellan Health Inc Technical Analysis Chart | MGLN | US5590792074 | 4-Traders
Technical analysis trends MAGELLAN HEALTH INC
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TrendsNeutralNeutralBullish
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 85,3 $
Spread / Average Target 8,5%
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Managers
NameTitle
Barry M. Smith Chairman & Chief Executive Officer
Jonathan N. Rubin Chief Financial Officer & Executive Vice President
Gary D. Anderson Chief Information Officer
Karen Amstutz Chief Medical Officer
Srinivas Koushik Chief Technology Officer
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