Managed Virtual Private Server (Managed VPS) is a hosting service that provides you with a virtual, separate, independent server with:
Every Managed VPS comes with SSDs where MySQL databases are located, which guarantees the quickest response possible for your applications.
Virtual server can have multiple web applications, including those with specific requirements or need more resources. The administration of the server is performed by VPS extra
In practice, with a Managed VPS you get the same environment as in shared hosting, but applications have a lot more resources.