Magellan Health Inc. announced that it has agreed to acquire Armed Forces Services Corporation (AFSC), a provider of behavioral health and specialty services to the Federal government including the US military. Based in Arlington, Virginia, AFSC has approximately 1,800 employees and generated 2015 revenues of $135 million with segment profit of $16.5 million.
The initial purchase price is $117.5 million with an additional $10 million paid for retention of certain core assets of the business. The deal is expected to close by the third quarter of 2016.
We provide you with the latest news on acquisitions in the Defense and Government markets. Make sure to subscribe to our weekly deal updates: