May 6, 2022
  • Centene announced it plans to divest two of its pharmacy businesses for a total of $2.8 billion. The insurer will sell its Magellan Rx subsidiary to Prime Therapeutics, a pharmacy benefit manger (PBM) backed by some of the country’s largest Blues plans, and will sell PANTHERx to The Vistria Group, General Atlantic, and Nautic Partners. Centene said the sales are part of its plan to exit the PBM space as part of its ongoing value-creation effort and strategic review of its business. (Press release here)