February 24, 1998
Youth Services International Inc., the Owings Mills operator of facilities for juvenile offenders, yesterday reported fourth-quarter income of $4 million, or 39 cents a basic share.While the profit was more than quadruple the $965,000, or 10 cents a basic share, earned in the fourth quarter of 1996, it included a $6.1 million pretax gain from the sale of the company's behavioral health business.Revenue for the three months ended Dec. 31 dipped to $23.3 million vs. $29.3 million in the 1996 period.
December 15, 1995
Charter Medical Corp., the largest operator of psychiatric hospitals in the nation, has purchased a majority share in Columbia-based Green Spring Health Services Inc., which manages mental health and drug and alcohol abuse programs for 12 million people.The deal, announced in October and concluded yesterday, creates the first fully integrated behavioral health care company. It will provide a range of services from emergency hospitalization to calculating how much services should cost.Atlanta-based Charter becomes a new holding company, Magellan Health Services Inc., with projected 1996 revenue of $1.4 billion and 22,000 employees.
May 21, 2000
Behavioral health unit at hospital will hold open house Carroll County General Hospital's newest unit, Behavioral Health Outpatient Services, will hold an open house from 5 p.m. to 7 p.m. Wednesday on the 4 North wing of the hospital. The specially designed unit features seven classrooms, offices, a conference room, and a receptionist/waiting area, all overlooking the Carroll County Farm Museum across the street. Opening remarks and a ribbon cutting will take place at 5:15 p.m. Light refreshments will be served.
August 15, 1997
Green Spring Health Services of Columbia said yesterday that it will buy Vista Behavioral Health Plans of San Diego in a $6 million deal.The acquisition continues Green Spring's rapid consolidation in the managed behavioral health care field. Such companies operate like HMOs, providing counseling and inpatient care, generally for a fixed monthly fee.The deal will add 600,000 members to Green Spring's business, which provides managed behavioral care to 16 million people.Green Spring and three other companies already control more than 70 percent of the market -- and one of those three, Human Affairs International, is being acquired by Magellan Health Services, which owns a controlling interest in Green Spring and operates mental hospitals.
December 1, 1999
Sheppard Pratt Health System said it has reached a three-year agreement with Peninsula Regional Medical Center of Salisbury to manage the hospital's 17-bed inpatient adult mental health unit.Sheppard Pratt and the medical center would not disclose the financial terms of the agreement.As part of the deal, Sheppard Pratt, the largest provider of behavioral health care services in Maryland, will manage the 7-year-old unit's clinical and administrative operations.The unit's program director, social worker and two therapists will become Sheppard Pratt employees, but the nursing staff, technicians and other workers will remain with the hospital, said Bill Elliott, the unit's mental health services program director.
January 29, 2002
New positions Magellan names Petrella COO of public sector unit Magellan Behavioral Health named Russell C. Petrella chief operating officer of the Columbia managed behavioral health care firm's public sector division. He oversees mental health and substance abuse programs, including Medicaid recipients and the uninsured through state and local government contracts. He received a Ph.D. in clinical psychology from Washington University in St. Louis and is a member of the American Academy of Forensic Psychology and the American Psychological Association.