M&A Deal Summary

Prime Therapeutics Acquires Magellan Rx

On May 5, 2022, Prime Therapeutics acquired life science company Magellan Rx from Centene for 1.4B USD

Acquisition Highlights
  • This is Prime Therapeutics’ 1st transaction in the Life Science sector.
  • This is Prime Therapeutics’ largest (disclosed) transaction.
  • This is Prime Therapeutics’ 1st transaction in the United States.
  • This is Prime Therapeutics’ 1st transaction in Arizona.

M&A Deal Summary

Date 2022-05-05
Target Magellan Rx
Sector Life Science
Buyer(s) Prime Therapeutics
Sellers(s) Centene
Deal Type Divestiture
Deal Value 1.4B USD

Target

Magellan Rx

Phoenix, Arizona, United States
Magellan Rx is a next-generation pharmacy organization that is delivering meaningful solutions to the people we serve. As pioneers in specialty drug management, industry leaders in Medicaid pharmacy programs, and innovators in pharmacy benefit management, Magellan Rx partners with our customers and members to deliver a best-in-class healthcare experience. Magellan Rx is based in Phoenix, Arizona.

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Buyer(S) 1

Buyer

Prime Therapeutics

Eagan, Minnesota, United States

Category Company
Founded 1987
Sector Life Science
DESCRIPTION

Prime Therapeutics helps people get the medicine they need to feel better and live well. Prime provides total drug management solutions for health plans, employers, and government programs including Medicare and Medicaid. Prime Therapeutics was founded in 1987 and is based in Eagan, Minnesota.


DEAL STATS #
Overall 1 of 1
Sector (Life Science) 1 of 1
Type (Divestiture) 1 of 1
State (Arizona) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Centene

St. Louis, Missouri, United States

Category Company
Founded 1984
Sector Insurance
Employees67,700
Revenue 154.0B USD (2023)
DESCRIPTION
Centene's corporate headquarters in St. Louis, Missouri.
Centene's corporate headquarters in St. Louis, Missouri.

Centene is a diversified, multi-national healthcare enterprise that provides programs and services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. Centene provides member-focused services through locally based staff by assisting in accessing care, coordinating referrals to related health and social services and addressing member concerns and questions. Centene also provides education and outreach programs to inform and assist members in accessing quality, appropriate healthcare services. Centene was incorporated in 1984 and is based in St. Louis, Missouri.


DEAL STATS #
Overall 2 of 6
Sector (Life Science) 2 of 2
Type (Divestiture) 2 of 6
State (Arizona) 1 of 1
Country (United States) 2 of 4
Year (2022) 2 of 4
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-05 Pantherx

Pittsburgh, Pennsylvania, United States

Pantherx is a rare disease pharmacy, comprehensively serving patients afflicted with rare and devastating conditions through the delivery of medical breakthroughs, clinical excellence, and access solutions. Pantherx offers a suite of synchronized compliance, logistics, and analytics solutions to help streamline the process of delivering orphan medications and care to people living with complicated rare diseases. Pantherx was founded in 2011 and is based in Pittsburgh, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-25 Centene - Spanish and Central European Businesses

Spain

Centene's Spanish and Central European Businesses includes Ribera Salud, a healthcare provider in Spain, which operates hospitals and provides other healthcare services, including through public-private partnerships; Torrejón Salud (Torrejón), a public-private partnership in the Community of Madrid which is operated by Ribera Salud; and Pro Diagnostics Group (PDG), a subsidiary of Ribera Salud, which owns clinics providing radiology and other services in Slovakia and the Czech Republic.

Sell -