|[September 19, 2013]
Magellan Health Services Names Sam K. Srivastava CEO of Magellan Plan Services
AVON, Conn. --(Business Wire)--
Health Services Inc. (NASDAQ: MGLN)
today announced that it has named Sam K. Srivastava, 46, to the new
position of CEO of Magellan Plan Services. As head of Plan Services, he
will be leading Magellan's behavioral health and integrated care
businesses, and will report to Magellan Health Services Chief Executive
Officer Barry M. Smith. He will begin on September 23.
"Sam has an extensive background leading large, successful health care
businesses, and I know that he will help us build on our existing
Magellan Plan Services strengths as a market leader," said Barry M.
Smith. "This is a significant segment of our overall business,
comprising over 70 percent of our revenue. In addition to our core
commercial and public sector behavioral health businesses, italso
includes our Magellan Complete Care unit which is a new and dynamic
business and will be one of our primary growth engines as we transform
the company. I'm confident that Sam will build on the strong foundation
that we have already set and lead us as we expand our business."
"I'm pleased to be joining Magellan at a time when the company is
repositioning itself to grow in the marketplace," said Sam K.
Srivastava. "Magellan Plan Services already has a strong and committed
leadership team and workforce, innovative products and services, and a
great reputation for serving customers. I look forward to working to
expand our offerings and capture opportunities that exist in the market
so that we can achieve the aggressive goals that we have set."
Srivastava joins Magellan from Cigna, where he has had executive
leadership and P&L responsibility for commercial and government
businesses. During his tenure, he has served as President of National &
Senior Segments, and in a leadership capacity for U.S. Strategy and
Business Development. Prior to joining Cigna in 2007, he served as Chief
Senior Products Officer for Health Net, Inc. For the decade prior to
that, he had a number of senior roles with increasing responsibility
with UnitedHealth Group's commercial, Medicare and Medicaid business
About Magellan Health Services: Headquartered in Avon,
Conn., Magellan Health Services Inc. is a leading specialty health care
management organization with expertise in managing behavioral health,
radiology, and pharmacy benefits programs, as well as integrated health
care programs for special populations. Magellan delivers innovative
solutions to improve quality outcomes and optimize the cost of care for
those we serve. As of June 30, 2013, Magellan's customers include health
plans, employers and government agencies, serving approximately 34.0
million members in our behavioral health business, 17.4 million members
in our radiology benefits management segment, and approximately 9
million members in our medical pharmacy management product. In addition,
the pharmacy solutions segment served 40 health plans and employers, 25
states and the District of Columbia, and several pharmaceutical
manufacturers. For more information, visit www.MagellanHealth.com.
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