Magellan Health Services Files Chapter 11 Bankruptcy

March 17, 2003 Magellan Health Services Files Chapter 11 Bankruptcy Magellan Health Services has filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York on March 11, 2003. This filing to financially restructure the debt of the organization, is pursuant to an agreement between Magellan and several of its key creditors. As an integral part of the restructuring plan, Aetna and Magellan have agreed to renew their contract. Magellan will continue as the provider of behavioral health care to Aetna's members for . . .