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Magellan Health closes Veridicus Holdings deal

Magellan Health Inc. said Magellan Pharmacy Solutions Inc. closed the acquisition of Veridicus Holdings LLC, a privately held pharmacy benefit management organization, on Dec. 13.

Magellan Pharmacy paid $72.5 million in cash for all of the outstanding equity interests in Veridicus, subject to working capital adjustments. Veridicus will now operate as a wholly owned subsidiary of Magellan Pharmacy Solutions.

Additionally, Magellan Pharmacy's acquisition of Veridicus Health's Granite Alliance Insurance Co. is pending approval from state insurance regulators in Utah. The transaction is expected to close in the first quarter of 2017 and the purchase price will be approximately $2.0 million.