NU Online News Service, Dec. 4, 4:10 p.m. – Magellan Health Services Inc., Columbia, Md., a cash-strapped company that manages mental health care for one-quarter of all U.S. residents, has hired Steven Shulman to be chief executive officer.

Shulman has been serving as the chairman of Internet HealthCare Group, Avon, Conn., a health care venture fund.

Shulman is a former chairman of Prudential HealthCare Inc., a large managed care company that was acquired by Aetna Inc., Hartford, and a co-founder of Value Health Inc., a specialty managed care company that was split up and acquired by several different companies.