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

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Magellan Health : MGLN) Enters Deal in Virginia for Commonwealth Coordinated Care Plus Program

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02/14/2017 | 11:22am CET

Magellan Health, Inc. (NASDAQ: MGLN) today announced that Magellan Complete Care (MCC) of Virginia has entered into a contract with the Commonwealth of Virginia to participate statewide in the Commonwealth Coordinated Care Plus (CCC Plus) program. MCC of Virginia was selected through a competitive procurement and is one of six companies to contract with Virginia for this program. The CCC Plus program is Virginias initiative around Managed Long Term Services and Supports (MLTSS), and will serve approximately 214,000 individuals with complex care needs.

We are excited about leveraging our expertise working with special populations to help our members in Virginia live healthy, vibrant lives, said John Littel, president of MCC of Virginia. The Commonwealth developed an innovative and comprehensive program that incorporated best practices from other programs across the country, while recognizing specific local needs and differences. We look forward to continuing our strong relationships with stakeholders, members, providers and others in Virginia on behalf of the members we serve.

MCC of Virginias model of care enables individuals to stay in their home and receive assistance with day-to-day activities. MCC of Virginia encourages individuals to take charge of their health with a person-centered model of care that integrates the management of physical, behavioral, pharmacy and social needs.

The CCC Plus program will phase in MLTSS members by region from August through December 2017. The Aged, Blind, and Disabled individuals currently enrolled in the Medallion 3.0 program will transition to the CCC Plus program on January 1, 2018. The Commonwealth of Virginia is in the process of determining the allocation of individuals among the six companies participating in the CCC Plus Program.

(c) 2017 TehranTimes. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2016 4 901 M
EBIT 2016 157 M
Net income 2016 74,9 M
Debt 2016 313 M
Yield 2016 -
P/E ratio 2016 25,21
P/E ratio 2017 18,24
EV / Sales 2016 0,44x
EV / Sales 2017 0,25x
Capitalization 1 822 M
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Mean consensus HOLD
Number of Analysts 5
Average target price 78,7 $
Spread / Average Target 0,34%
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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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