Scottsdale, Arizona-based healthcare management company Magellan Health has closed a deal of an undisclosed sum to acquireÂ Armed Forces Services Corp., aÂ behavioral health and specialty services provider for federal government agencies and the U.S. military.
MagellanÂ said Tuesday it will further detail the strategy and impact of theÂ acquisition inÂ an earnings call onÂ July 29.
Sam Srivastava, CEO ofÂ Magellan’s healthcare services division, said the company sought access to AFSC’s network across military and federal civilian agencies in an effort to expandÂ behavioral health, wellness and integrated care servicesÂ inÂ those markets.
Srivastava added the acquisition will also support Magellan’s suicide prevention programsÂ for service membersÂ and federal workers whoÂ are affected byÂ post-traumatic stress disorder.
AFSC holds close toÂ 60 contracts with the government andÂ offers a range ofÂ behavioral health services such asÂ life coaching, counseling, rehabilitation, transition assistance, recruitment and retention, training and family programs.
Magellan Health works to provideÂ healthcare management, diagnostic imaging, specialty pharmaceutical services and pharmacy benefits administration forÂ health plans and managed care organizations, employers, labor unions, military and governmental agencies and others.