Newsletter Articles | January 1, 2001
Magellan Health Services Sells CHC, Its Canadian Operation
OPEN MINDS, The Behavioral Health & Social Service Industry Analyst
Industry News
On December 7, 2000, Columbia, Maryland-based Magellan Health Services Inc. signed an agreement to sell CHC, its Canadian-based operation, to FGI, a Canadian company. Under the terms of the agreement, Magellan will receive $12.8 million Canadian dollars at closing and an additional $2 million Canadian dollars over the next two years. Proceeds from the sale will be used for bank debt reduction. In addition, the company expects to receive approximately $2 million Canadian dollars through the . . .