Centene to shed Magellan Specialty Health for more than $600M

Centene announced plans Thursday to sell its Magellan Specialty Health for more than $600 million in cash and stock to administrator Evolent Health. 

The sale is part of Centene’s ongoing efforts to jettison  its non-health plan businesses.

Evolent will pay at least $400 million in cash and about $200 million in stock for the specialty management service, according to Centene. Depending on Magellan Specialty Health’s performance in…