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):
April 15, 2014
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 Matters
As disclosed in the Magellan Health Services, Inc. (the “Company”) Form 10-K, filed on March 3, 2014, the Company has a contract with one of the significant customers in its Specialty Solutions segment with a term ending June 30, 2014 which generated revenue of $55.1 million for the year ended December 31, 2013. This contract currently provides services on a risk basis. On April 15, 2014, the Company and this customer agreed to amend this contract. The contract was extended through June 30, 2016 and effective July 1, 2014, the services will be provided on an administrative services only (“ASO”) basis. Annualized ASO revenues under this contract are anticipated to be approximately $6 million.
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: April 15, 2014 |
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 |