International law firm McDermott Will & Emery represented Prime Therapeutics LLC, a pharmacy benefits manager, in its $1.35 billion definitive agreement with Centene Corporations to acquire Magellan RX Management, a division of Magellan Health, Inc., a next-generation pharmacy organization that is delivering meaningful solutions to the people they serve.
- The transaction was announced on May 5, 2022, and subject to regulatory approvals, is expected to close in late 2022.
- Combining Prime’s fully transparent and channel-independent model with Magellan Rx’s industry-leading portfolio of medical pharmacy solutions is expected to create a new specialty drug management model — one that uniquely aligns and integrates with providers and harnesses the patient and provider relationship to meet patients where they are in their care journey.
- The McDermott corporate team was led by Mark Mihanovic and Diego Gomez-Cornejo. The relationship partner for Prime Therapeutics is Jeremy Earl. The regulatory team was led by Mimi Alexandre and Steve Wu and Dan Powers provided antitrust support.
- Read Prime’s press release here.
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