Magellan Health Services Emerges From Bankruptcy

OPEN MINDS, The Behavioral Health & Social Service Industry Analyst Industry News Magellan Health Services Inc. (Magellan), the nation's largest behavioral health care company, announced on January 5, 2004, that it has successfully consummated its financial restructuring, establishing a sound capital structure that will support and enhance the long-term growth and potential of its business. Magellan's restructuring reduced its debt by approximately $600 million and added approximately $150 million in new equity. Accordingly, Magellan has exited from the Chapter 11 proceeding it commenced on March 11, 2003. The company serves about 60 million Americans through mental health . . .