Newsletter Articles | June 30, 1998
Magellan Behavioral Health to Acquire Tennessee Behavioral Health
OPEN MINDS The Behavioral Health & Social Service Industry Analyst
Industry News
On June 12, 1998, Magellan Behavioral Health announced that it has signed a definitive agreement with PHP Companies, Inc. to purchase Tennessee Behavioral Health (TBH), PHP's mental health subsidiary. The terms of the sale were not disclosed. Magellan will assume operation of TBH over the next several months, once state and federal approvals are obtained. TBH has annual revenues of $135 million and employs approximately 100 people across the state. TBH covers 550,000 members statewide under a . . .