Magellan Health Appoints David Bourdon as Chief Financial Officer of Magellan Health

PHOENIX–(BUSINESS WIRE)–Magellan Health, Inc. (NASDAQ: MGLN) today announced it has appointed David Bourdon as chief financial officer of Magellan Health, effective Tuesday, September 8, 2020. In this role, Bourdon will be responsible for providing company-wide financial leadership, succeeding CFO Jon Rubin who previously announced his retirement. Rubin will remain with the Company for a period of time to ensure a smooth leadership transition.

“Dave is a superb and accomplished leader with over 21 years of significant experience leading finance organizations on behalf of healthcare businesses undergoing transformational growth,” said Ken Fasola, chief executive officer, Magellan Health. “We look forward to working with Dave, who will serve as a trusted business partner in our pursuit to become the leading independent payer services company focused on creating increasingly integrated physical and behavioral health solutions that address the needs of complex populations.”

“I am honored to join Magellan Health and look forward to collaborating closely with the executive leadership team and leading the Finance organization as we facilitate the achievement of business objectives on behalf of our customers, providers and members,” said Bourdon.

Bourdon brings to Magellan Health a strong understanding of the healthcare market combined with deep strategic and operational financial expertise. His prior career at Cigna spans more than 21 years including 14 years as CFO of its various businesses. Bourdon has led best-in-class global finance organizations supporting diverse Cigna businesses offering a range of products and services including individual and employer healthcare, behavioral, pharmacy management and dental. Prior to joining Magellan Health, Bourdon served as CFO of Cigna’s Integrated Medical, Life & Disability, and International Markets businesses with over $45 billion in revenue.

Bourdon has a Master of Business Administration from the University of Maryland and a Bachelor of Science in Management from the United States Coast Guard Academy.

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

This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. 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 most recent Annual Report on Form 10-K, quarterly report on Form 10-Q, and subsequent reports on Forms 10-Q and 8-K. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.

(MGLN-GEN)

Contacts

Media Contact: Lilly Ackley, ackleyl@magellanhealth.com, (860) 507-1923

Investor Contact: Darren Lehrich, lehrichd@magellanhealth.com, (860) 507-1814