UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
November 7, 2005
MAGELLAN HEALTH SERVICES, INC.
(Exact Name of Registrant as Specified in Charter)
DELAWARE 1-6639 58-1076937
(State or Other Jurisdiction (Commission File (IRS Employer
of Incorporation) Number) Identification No.)
55 NOD ROAD
AVON, CONNECTICUT 06001
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (860) 507-1900
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions (see General Instruction A.2. below):
|_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 8.01 - OTHER EVENTS
The State of Tennessee Bureau of Tenncare announced yesterday that it
had issued a Request for Information ("RFI") with regard to a possible model for
the management of the integrated delivery of behavioral and physical medical
care to Tenncare enrollees in the Middle Region of Tennessee by managed care
organizations. The RFI contemplates that the managed care organizations might
subcontract with a separate company to provide behavioral healthcare management
as part of an integrated healthcare management offering.
Currently, Magellan Health Services, Inc. (the "Company"), directly
and through affiliates, provides behavioral healthcare management for Tenncare
enrollees in all regions of Tennessee (Eastern, Middle and Western) pursuant to
contracts directly with the Bureau that terminate on June 30, 2006. The Company
estimates that, for the nine months ended September 30, 2005, revenue derived
from TennCare enrollees residing in the Middle Region amounted to approximately
$120 million. Further information regarding the business the Company does with
the Tenncare program is provided in the Company's Annual Report on Form 10-K for
the year ended December 31, 2004 and its Quarterly Report on Form 10-Q for the
quarter ended September 30, 2005. The Company does not expect that any contract
awarded as a result of the RFI process would become effective before the
expiration of its existing contracts.
If as a result of the Bureau's consideration of the results of the
RFI a decision were made to seek proposals for integrated healthcare management
of the Tenncare program, the Company anticipates that it would seek to
subcontract to provide behavioral healthcare management for the Tenncare
program; however, there is no assurance that the Company will be able to secure
such an arrangement.
ITEM 9.01. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Financial Statements of business acquired: Not applicable.
(b) Pro forma financial information: Not applicable.
(c) Exhibits: Not applicable.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
MAGELLAN HEALTH SERVICES, INC.
By: /s/ Mark S. Demilio
-------------------------------------
Name: Mark S. Demilio
Title: Executive Vice President and
Chief Financial Officer
Dated: November 8, 2005
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