Insurer Centene to Buy Magellan for $2.2 Billion to Expand Its Mental Health Services Health insurer Centene Corp. said on Monday it has agreed to buy Magellan Health Inc. in a $2.2 billion deal including debt, looking to build up its mental health services as more Americans struggle with COVID-19-related behavioral and anxiety issues. Centene has offered $95 per share in cash, a 14.7% premium to the pharmacy benefits manager’s Thursday closing price. Shares of Magellan Health, which also provides mental health services to patients with serious mental illness, autism and opioid and substanc...