Magellan Health Services reported second quarter revenue and profits up 4.6 percent and 16.7 percent, respectively.
The Avon health care management organization booked revenue of $842.7 million, up from $805.5 million in the second quarter of 2012. Profits were $31.5 million, up from $27 million.
Magellan helps health plans, employers and government agencies manage benefits.
“Our core behavioral health, radiology and pharmacy businesses continue to perform well and are making significant contributions to our results,” Barry M. Smith, Magellan’s CEO, said in a statement.
The company also said its board of directors has approved a $100-million increase to the company’s existing $200-million share repurchase program and extended it for two years until October 25, 2015.
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