Magellan Gains New Investment Partner
OPEN MINDS, The Behavioral Health & Social Service Industry Analyst
Industry News>
Magellan Health Services, Inc. announced on July 19, 1999 that it has signed an investment agreement with Texas Pacific Group (TPG). This agreement enables TPG to invest approximately $75 million in cumulative convertible preferred stock of Magellan Health Services. TPG is a private investment firm with over $3.0 billion under management. Under the agreement, TPG will also get three board seats on Magellans board of directors. Completion of the investment by TPG is subject to lender . . .