Insurer Centene to buy Magellan in $2.2 billion mental health push

By Manas Mishra, Dania Nadeem and Rebecca Spalding (Reuters) -Health insurer Centene Corp said on Monday it has agreed to buy Magellan Health Inc in a $2.2 billion deal including debt, looking to build up its mental health services as more Americans struggle with COVID-19-related behavioral and anxiety issues.

Centene has offered $95 per share in cash, a 14.7% premium to the pharmacy benefits manager's Thursday closing price. Shares of Magellan Health, which also provides mental health services to patients with serious mental.....

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