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Magellan Health Names New CFO

Analysis  |  By Jack O'Brien  
   September 03, 2020

David Bourdon spent more than two decades at Cigna Corp.

Magellan Health announced the appointment of David Bourdon as its new CFO Thursday morning.

He will replace outgoing CFO Jon Rubin, who is retiring, effective Tuesday.

Bourdon spent more than two decades as an executive at Cigna Corp, including as CFO of the insurer's Integrated Medical, Life & Disability, and International Markets businesses.

"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," Bourdon said in a statement.

Bourdon's appointment comes just over a month after the Scottsdale–based for-profit managed care company released its Q2 2020 earnings report.

Related: Magellan Health Revenues Slide 4.7%, Net Income Rose Again

During the quarter, Magellan's net revenue fell 4.7%, but the company's net income increased 552.9%

The company's healthcare segment profit was $60.8 million, a year-over-year increase of $19.7 million that was largely the result of, "lower utilization trends in the specialty healthcare reporting unit due to COVID-19."

Additionally, Magellan updated its guidance to expect net revenue in the range of $4.4 billion to $4.6 billion, down from its previous guidance of net revenue between $7 billion to $7.4 billion.

Jack O'Brien is the Content Team Lead and Finance Editor at HealthLeaders, an HCPro brand.

Photo credit: KIEV, UKRAINE - Jan 3, 2019: Magellan Health Managed care company logo seen displayed on smart phone - Image / Editorial credit: IgorGolovniov / Shutterstock.com


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