This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Magellan Behavioral Health Selected To Administer Military & Family Life Counseling Program For U.S. Department Of Defense

Magellan Health Services Inc. (NASDAQ: MGLN) announced today that its subsidiary, Magellan Behavioral Health Inc., has entered into a contract with the U.S. Department of the Interior on behalf of the U.S. Department of Defense (DoD) to serve as one of the vendors to administer the Military & Family Life Counseling (MFLC) program, which provides counseling for adults and children in the military community. The contract began on August 15, 2012, and includes a one-year base contract, with the DoD option to renew for four additional one-year terms. Magellan anticipates annual revenues of approximately $70 million once the contract is fully implemented.

“Magellan is honored to serve the Department of Defense, enhancing the well being of the brave men, women and families of our nation’s military community,” said René Lerer, M.D., chairman and CEO of Magellan. “The stresses of military life, particularly in times of war and conflict, are always a serious concern in the military community, and it’s never been more important for our armed forces and their families to have access to comprehensive life counseling support and tools to improve their quality of life.

“We are deeply committed to the health, well-being and success of veterans and their families, as evidenced by our work with programs such as the Illinois Warrior Assistance Program (IWAP) and the Defense Centers of Excellence for Psychological Health & Traumatic Brain Injury (DCoE), and Magellan’s founding of the Hero Health Hire veteran employment initiative. Building upon that mission, we look forward to delivering quality programs that address the unique needs of service members and their families so that they can continue to focus on what they do best – serving and defending our country.”

Created by the DoD in 2004, the MFLC program provides short-term, non-medical counseling services to active duty military, National Guard and Reserves members serving in the United States and abroad, as well as their family members. Per the contract, Magellan will administer services on a majority of continental United States bases. These services are intended to ensure readiness of the force, decrease distractions and enhance the quality of life for service members and their families by helping them address life challenges such as relocation adjustment, mobilization, deployment stress, separation and homesickness, grief and loss, isolation, reunion, anxiety and more.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,678.23 -40.31 -0.23%
S&P 500 2,057.37 -3.68 -0.18%
NASDAQ 4,866.0220 -10.4970 -0.22%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs