Magellan Health Reports Loss Of Contract That Provided $60 Million Last Year

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Magellan Health Services Inc. of Avon reports that it is losing contracts with a large customer in its specialty pharmacy segment — a customer that provided $60.4 million in revenue to the insurer last year.

Magellan did not identify the company, which has decided not to renew its contracts with the insurer. The contracts brought in $28.5 million during the first six months of this year, according to a company filing Monday with the U.S. Securities and Exchange Commission.

The company would not explain why and when it reports nonrenewed contracts with federal regulators.

About Matthew Sturdevant

Full-time staff journalist at The Hartford Courant and magazine freelancer with a master's degree in writing from Dartmouth. My work has appeared in The Los Angeles Times, The Chicago Tribune, Taiwan News, The Baltimore Sun and many other news sources. My blog has been referenced by Politico.com, the Kaiser Family Foundation, the Georgetown Law Library and a number of organizations in healthcare and business. Sturdevant’s blog is "a well-written wealth of ideas," said The Donald W. Reynolds National Center for Business Journalism, (businessjournalism.org, May 18, 2011). I have experience writing for newspapers, magazines, Web sites and blogs as well as shooting and editing video. I made regular appearances on news-talk radio and on the NBC affiliate station in Corpus Christi, Texas. I made occasional appearances on the Fox affiliate in Connecticut promoting Hartford Courant articles.

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One thought on “Magellan Health Reports Loss Of Contract That Provided $60 Million Last Year

  1. Brittnee Perkins

    There have been so many issues related to medical insurance. One of those huge issues is the amount of people that are filing for medical bankruptcy. Out of all of the people filing for bankruptcy, 60% of those people are filing for medical bankruptcy. This is such a big number of people and it is all because medical insurances and bills are not affordable. If you are in this same situation, go to http://www.bankruptcylawconsultation.com/Article-Medical-Bankruptcy.html where you will be connected to a local attorney who will assist you in filing for medical bankruptcy.

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