The company began as the
psychiatric hospital chain
Charter Medical, headquartered in
Macon, Georgia. In 1992, the company filed for
Chapter 11 bankruptcy, stemming from debt incurred as a result of the 1988 management-led takeover. After recovering from bankruptcy, it moved its headquarters to
Atlanta in 1994. Acquiring a major stake in Green Spring Health Services Inc., a managed care company based in
Columbia, Maryland, the company re-structured into a new holding company, changing its name to Magellan Health Services. In 1997, Magellan entered the behavioral health managed care business by acquiring Human Affairs International and Merit Behavioral Care. In 1999 the company moved to Green Spring's old headquarters in
Columbia, Maryland. In 2004, the company headquarters moved to
Connecticut. In 2014, the company moved its headquarters from Connecticut to
Arizona. Magellan sold its managed care division to
Molina Healthcare in 2018. On January 4, 2021, it was announced
Centene Corporation would acquire the company for $2.2 billion. On January 4, 2022, the acquisition was completed. Centene divested Magellan Rx in 2022 to Prime Therapeutics. Centene announced the sale of Magellan Specialty Health to Evolvent Health in 2022. ==References==