Magellan Health Appoints Tim Lacy as Chief Growth Officer

Magellan Health, Inc. (NASDAQ: MGLN) today announced it has appointed Tim Lacy as chief growth officer of Magellan Health, effective Monday, April 6, 2020.

In this newly created role, Lacy will be responsible for driving a collaborative approach with Magellan Health business leaders and customers to transform end-to-end sales processes, ensure the Company continues to create and deliver differentiated solutions and capabilities, as well as gain and retain competitive advantage and market leadership.

“I look forward to leveraging Tim’s tremendous sales and business development expertise as we seek to enhance the overall growth strategy for our Company,” said Ken Fasola, chief executive officer, Magellan Health. “In this key role, he will partner closely with me and our business leaders as we set the road map for a sales strategy firmly synched to market demands and the achievement of our business and financial growth goals.”

“I am honored and energized by the opportunity to work closely with Ken and the leadership team to capture the next phase of growth for Magellan Health,” said Lacy. “As we bring new capabilities and programs to market, we will solidify our role as a leader in the behavioral and physical health space and bring meaningful value to our customers, members and shareholders.”

Lacy is a proven leader in the healthcare industry with over 27 years of experience in managing national sales activities, sales operations and corporate development for Fortune 100 companies including UnitedHealth Group and Walgreens. Prior to joining Magellan Health, he was a managing partner at FlagshipHealth Group for nearly 10 years providing expert counsel on go-to-market strategies for large health systems and health plans. Lacy has a Bachelor of Science degree in International and Business Management from St. John’s University.

About Magellan Health: Magellan Health, Inc., a Fortune 500 company, is a leader in managing the fastest growing, most complex areas of health, including special populations, complete pharmacy benefits and other specialty areas of healthcare. Magellan supports innovative ways of accessing better health through technology, while remaining focused on the critical personal relationships that are necessary to achieve a healthy, vibrant life. Magellan's customers include health plans and other managed care organizations, employers, labor unions, various military and governmental agencies and third-party administrators. For more information, visit MagellanHealth.com.

Forward-Looking Statements

All statements, other than statements of current or historical fact, contained in this press release are forward-looking statements. Magellan intends such forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we are including this statement for purposes of complying with these safe-harbor provisions. These statements are based on management’s analysis, judgment, belief and expectation only as of the date hereof, and are subject to uncertainty and changes in circumstances. Without limiting the foregoing, the words “believes,” “anticipates,” “plans,” “expects,” “may,” “should,” “could,” “estimate,” “intend” and other similar expressions are intended to identify forward-looking statements. You should not place undue reliance on any forward-looking statements, as actual results may differ materially from projections, estimates, or other forward-looking statements due to a variety of factors, variables and events including but not limited to: the impact of COVID-19 on global markets, economic conditions and the healthcare industry and our results of operations, which is unknown; the possible election of certain of the Company’s customers to manage the healthcare services of their members directly; changes in rates paid to and/or by the Company by customers and/or providers; higher utilization of healthcare services by the Company’s risk members; risks and uncertainties associated with the pharmacy benefits management industry; delays, higher costs or inability to implement new business or other Company initiatives; the impact of changes in the contracting model for Medicaid contracts; termination or non-renewal of customer contracts; the impact of new or amended laws or regulations; governmental inquiries; litigation; competition; operational issues; healthcare reform; and general business conditions. Additional factors that could cause actual results to differ materially from those reflected in the forward-looking statements include, but are not limited to, the risks discussed in the “Risk Factors” section included within the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, filed with the Securities and Exchange Commission on February 28, 2020. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date of this release.

(MGLN-GEN)

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