Centene completes divestiture of Magellan Specialty Health to Evolent Health

Centene (CNC) announced that it has completed the previously announced divestiture of Magellan Specialty Health to Evolent Health (EVH). Centene received approximately $660M in proceeds at closing, subject to adjustment in accordance with the purchase agreement, with approximately $400M paid in cash and the remainder paid in Evolent common stock. In addition, Centene will receive up to $150M in cash and Evolent common stock in 2024 if certain performance metrics are achieved.