AVON, Conn., Jul 01, 2010 (BUSINESS WIRE) -- Magellan Health Services, Inc. (Nasdaq: MGLN) today announced that its First Health Services Corp. business has been renamed, effective July 1, and is now operating as Magellan Medicaid Administration, Inc.SM The Company, which is a leader in the public sector market for the management and administration of health benefits programs, is a wholly owned subsidiary of Magellan Health Services.
Magellan Medicaid Administration provides pharmacy benefits administration services for Medicaid programs in 25 states and the District of Columbia; including two of the largest state senior pharmaceutical assistance programs, in New York and Pennsylvania. The company also offers integrated clinical management solutions, operational administration, information technology, and service and support to state health programs.
"Our company's new name and brand reflects our capabilities and aligns well with the Magellan enterprise," said Magellan Medicaid Administration President Timothy P. Nolan. "We see great value in adopting a name that connects us to the strength, stability and resources of Magellan, while reinforcing the strong link to the Medicaid and public health markets we've served for more than four decades."
About Magellan: Headquartered in Avon, Conn., Magellan Health Services, Inc. (Nasdaq: MGLN) is a leading specialty health care management organization whose customers include health plans, employers and government agencies nationwide. In addition to public sector pharmacy benefits administration, the company operates in the areas of behavioral health, radiology benefits management, and specialty pharmacy management. Visit www.MagellanHealth.com or www.MagellanMedicaid.com for more information.
SOURCE: Magellan Health Services, Inc.
Magellan Health Services, Inc. Investor Contact: Renie Shapiro, 877-645-6464 or Media Contact: Tami Schmidt, 410-953-2414
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