LONDON, UK / ACCESSWIRE / October 11, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Magellan Health, Inc. (NASDAQ: MGLN), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=MGLN. The Company announced on October 09, 2017, declared the receipt of all necessary regulatory approvals regarding its agreement to acquire Senior Whole Health (SWH). The acquisition is likely to close on or before December 31, 2017, which was earlier expected to close by the end of Q1 2018. For immediate access to our complimentary reports, including today's coverage, register for free now at:
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on MGLN. Go directly to your stock of interest and access today's free coverage at:
Acquisition Makes Sense from both Strategic and Financial Perspective
Barry M. Smith, Chairman and Chief Executive Officer of Magellan Health, stated that the receipt of all necessary approvals around this transaction is illustrative of both Magellan's and SWH's sound business strategy and execution concerning the acquisition. Barry added that as a leader in managing chronic and specialty populations, this acquisition makes sense from both a strategic and a financial perspective.
Magellan Health Signed an Agreement to Acquire Senior Whole Health in July 2017
News releases suggest that on July 13, 2017, Magellan Health entered into a definitive agreement to acquire SWH. The acquisition would provide Magellan with an opportunity to expand into the Massachusetts Senior Care Options program and New York City's managed long-term care market. The Company plans to leverage SWH's sound, culturally competent clinical model and expertise.
Under the terms of the agreement, Magellan would acquire SWH for approximately $400 million cash, inclusive of a $10 million contingent payment. The Company anticipated paying the purchase price from the proceeds of new debt offerings. The transaction was subject to certain state and federal regulatory approvals as well as standard closing conditions and customary approvals required under the Hart-Scott-Rodino Antitrust Improvements Act.
Magellan Rx Management Collaborates with Health New England to Launch New Hemophilia Management Program
On August 01, 2017, Magellan Health's pharmacy benefit management division, Magellan Rx Management, launched a hemophilia management program in collaboration with Health New England, a non-profit health plan serving the commercial, Medicaid, and Medicare markets. The program is targeted to manage hemophilia utilization on both the pharmacy and medical benefits and aims to improve overall quality of care while reducing unnecessary costs.
Hemophilia is a rare genetic bleeding disorder, for which treatment is expensive and difficult to manage.
About Magellan Health, Inc.
Founded in 1969, Magellan Health 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. The Company is based in Scottsdale, Arizona.
About Senior Whole Health, LLC
Established in 2003, Senior Whole Health is a privately held company operating as a health maintenance organization. It provides healthcare benefits to more than 22,000 Medicaid and Medicare-eligible seniors in Massachusetts, New York, and Connecticut. The Company is based in Cambridge, Massachusetts.
Last Close Stock Review
At the closing bell, on Tuesday, October 10, 2017, Magellan Health's stock ended the trading session flat at $84.95. A total volume of 114.85 thousand shares have exchanged hands. The Company's stock price soared 15.97% in the last three months, 24.93% in the past six months, and 53.78% in the previous twelve months. Moreover, the stock rallied 12.89% since the start of the year. The stock is trading at a PE ratio of 24.13 and currently has a market cap of $2.05 billion.
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email [email protected]. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: [email protected]
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily