Three insurers — Aetna, Cigna Corp. and Magellan Health Services Inc. — are offering free behavioral health consultations to help people deal with trauma and grief related to the Boston Marathon.
Magellan Health Services Inc. said Wednesday it is protesting its loss of a state-awarded contract in Arizona worth $3 billion to $5 billion to manage a behavioral health system in the Phoenix region.
Magellan Health Services Inc. said in a federal filing Monday that one of its customers will end a contract at the end of 2013.
The customer was not named. The customer’s contract brought in $144.5 million in revenue to Magellan during the nine-month period ending Sept. 30.
Magellan Health Services Inc. will have a new chief executive at the start of the year as current CEO René Lerer steps down to become a full-time executive chairman.
The change is part of a transition to take place over several years. Barry M. Smith, 59, will be the new CEO starting Jan. 1. Smith is a member of the company’s board.
Magellan Health Services Inc. saw its stock leap early Friday as third-quarter earnings beat analysts’ expectations.
Net income for the three-month period ending Sept. 30 was $66.3 million, or $2.36 per diluted share, compared with $31.4 million, or $1.03 per diluted share, during the same period in 2011.
Analysts polled by Thomson Reuters were expecting, on average, 97 cents per share.
“We are pleased with our recent contract award to administer the Military and Family Life Counseling (MFLC) program for the U.S. Department of Defense, which gives us a stronger foothold in the military and federal government space,” said Magellan chairman and CEO René Lerer.