Magellan Health Elects Two New Board Members

Magellan Health, Inc. (NASDAQ: MGLN) today announced that Christopher J. Chen, M.D., and Mural R. (Joe) Josephson have been elected to Magellan’s board of directors at the 2020 Annual Meeting of Stockholders.

“We are fortunate to welcome two deeply experienced professionals to our board of directors,” said Kenneth Fasola, chief executive officer of Magellan Health. “Dr. Chen’s entrepreneurial and medical strengths, combined with Joe’s financial experience in the insurance industry, will be great assets to Magellan.”

Dr. Chen serves as chief executive officer of ChenMed LLC, a physician-led company that aims to bring concierge-style medicine and better health outcomes to seniors. Under Dr. Chen’s leadership, ChenMed grew from a handful of South Florida centers to the 59 it operates in eight states today. The senior-focused primary care practice delivers industry-leading health outcomes and patient satisfaction with significantly lower total cost of care. A clinically trained physician, Dr. Chen is board certified in several specialty areas centered on primary care and cardiology and is licensed to practice medicine in several states.

Mr. Josephson is a retired insurance executive who most recently was with Kemper Insurance Companies, having retired in 2002. At Kemper, he held key management positions, including senior vice president and chief financial officer, as well as senior vice president of finance. Prior to joining Kemper, Josephson held several senior level positions at KPMG, including 19 years as an audit partner. From 2007 until he retired in April 2020, he served on the board of directors of Argo Group International Holdings, Ltd., as a member of the audit committee. Josephson also recently served on the board of directors and as chair of the audit committee at HealthMarkets, Inc. Josephson is a registered certified public accountant in Illinois.

Magellan’s Board of Directors also includes the following incumbent members who were re-elected at the 2020 Annual Meeting of Stockholders: Steven J. Shulman, Swati Abbott, Kenneth J. Fasola, Peter A. Feld, G. Scott MacKenzie, Leslie V. Norwalk and Guy P. Sansone. The election results were filed with the Securities and Exchange Commission on Form 8-K on June 19, 2020.

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.

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