NU Online News Service, Nov. 2, 2004, 12:44 p.m. EST
A company that manages mental health care for one-quarter of the U.S. population is continuing to improve its financial performance.[@@]
Magellan Health Networks Inc., Farmington, Conn., is reporting $27 million in net income for the third quarter on $458 million in revenue, up from a $50 million net loss on $374 million in revenue for the third quarter of 2003.
Magellan, which manages addiction treatment and other forms of mental health care for about one-quarter of the entire U.S. population, emerged from Chapter 11 bankruptcy court protection in late 2003.