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Magellan Health, a leading healthcare management company, has completed its acquisition of Armed Forces Services Corporation (AFSC), a behavioral health and specialty services provider that covers all five branches of the US Armed Forces.
AFSC holds roughly 60 contracts with the federal government and has 1,800 employees and subcontractors, with operations in all 50 states, three territories and eight countries.
AFSC manages and offers a range of behavioral health services including life coaching, counseling, training, rehabilitation, transition assistance, recruitment and retention and family programs.
Sam Srivastava, chief executive officer (CEO) of Magellan Health, said: “Coupling Magellan’s clinical expertise with AFSC’s extensive network within the military and other federal agencies, this acquisition will enable us to expand our behavioral health, wellness and integrated care offerings and services in this important area.
“This acquisition also allows us to expand our work in suicide prevention and programs that assist in post-traumatic stress disorder to help members of the military and federal workers live healthier lives.”
Magellan will update this year’s guide to include the impact of the acquisition on its next earnings call on July 29, 2016.
Armed Forces Services Corporation, Magellan Health, Risk management, Healthcare, M&A