UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
May 3, 2011
MAGELLAN HEALTH SERVICES, INC.
(Exact Name of Registrant as Specified in Charter)
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DELAWARE |
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1-6639 |
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58-1076937 |
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(State or Other Jurisdiction |
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(Commission File |
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(IRS Employer |
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of Incorporation) |
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Number) |
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Identification No.) |
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55 NOD ROAD |
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AVON, CONNECTICUT |
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06001 |
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(Address of Principal Executive Offices) |
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(Zip Code) |
Registrant’s telephone number, including area code: (860) 507-1900
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events
As previously disclosed in Magellan Health Services, Inc. (the “Company”) Form 10-Q for the period ended March 31, 2011, one of the significant customers in the Medicaid Administration segment generated revenues of $6.0 million for the three months ended March 31, 2011. This customer has two different contracts which have termination dates of June 30, 2011 and September 30, 2011. Pursuant to a competitive bid process, on May 3, 2011 the customer notified the Company that the contract that was scheduled to terminate on June 30, 2011 was awarded to Magellan under a new contract through June 30, 2017; the new contract also has two two-year renewal options. This contract represented $5.8 million of the revenues recognized for such customer during the three months ended March 31, 2011.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
MAGELLAN HEALTH SERVICES, INC.
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Date: May 9, 2011 |
By: |
/s/ Jonathan N. Rubin |
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Name: Jonathan N. Rubin |
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Title: Executive Vice President and Chief Financial Officer |