Magellan to Buy HAI/Green Spring Buys Vista

OPEN MINDS The Behavioral Health & Social Service Industry Analyst

Industry News

On August 5, 1997, Magellan Health Services, Inc. and Aetna, Inc. announced that Magellan had signed a definitive agreement to purchase Human Affairs International, Inc. (HAI), a unit of Aetna U.S. Healthcare. The transaction is expected to close in the fourth quarter of this year, at which time HAI will become a wholly owned subsidiary of Magellan. Magellan will pay $122.1 million in cash at closing. The addition of HAI will double, to 32 million, the number . . .