Prime Therapeutics’ Acquisition of Magellan Rx from Centene

Skadden advised Centene Corporation in the deal.

Centene Corporation signed its definitive agreement to sell Magellan Rx to Prime Therapeutics LLC.

Magellan Rx is a comprehensive pharmacy solutions organization with leading capabilities in specialty drug management, Medicaid administration, and comprehensive pharmacy benefits management.
Centene acquired Magellan Rx in January 2022 as part of its acquisition of Magellan Health, Inc.

Centene Corporation, a Fortune 25 company, is a leading healthcare enterprise that is committed to helping people live healthier lives. The Company takes a local approach – with local brands and local teams – to provide fully integrated, high-quality, and cost-effective services to government-sponsored and commercial healthcare programs, focusing on under-insured and uninsured individuals.

Prime Therapeutics LLC (Prime) helps people get the medicine they need to feel better and live well. Prime provides total drug management solutions for health plans, employers, and government programs including Medicare and Medicaid. The company processes claims and offers clinical services for people with complex medical conditions. 

The Skadden team advising on the Magellan transaction included M&A partners Jeremy London (Washington, D.C.; Picture) and Paul Schnell (New York), and counsel Micah Kegley (Washington, D.C.); Insurance partner Elena Coyle (New York); Intellectual Property and Technology partner Jose Esteves (New York/Palo Alto); Executive Compensation and Benefits partners Erica Schohn (New York) and Page Griffin (New York); Antitrust/Competition partners Clifford Aronson (New York) and Kenneth Schwartz (New York); Tax partner Gavin White (New York); and Real Estate partner Peter Mair (Los Angeles).

Involved fees earner: Clifford Aronson – Skadden; Elena Coyle – Skadden; Jose Esteves – Skadden; Page Griffin – Skadden; Micah Kegley – Skadden; Jeremy London – Skadden; Peter Mair – Skadden; Paul Schnell – Skadden; Erica Schohn – Skadden; Kenneth Schwartz – Skadden; Gavin White – Skadden;

Law Firms: Skadden;

Clients: Centene Corporation;