After weathering a rocky 2018 and facing public pressure from a hedge fund, Magellan Health Inc. appears more and more likely to end up on the selling block. If the company does opt for a sale, some industry experts say, its PBM could be one of the most attractive assets to potential buyers. Though Magellan’s insurance business contains Medicaid managed care contracts and radiology and behavioral health assets, “we would think most larger MCOs already have these capabilities in house and it’s not clear if buyer interest would be high for this side of the business other than for the Managed Medicaid book,” Jefferies analyst David Styblo wrote in a Feb. 20 research note.
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