Coventry Health Care

Coventry Health Care, Inc. was a health insurer in the United States. It had 3.7 million medical members, 1.5 million Medicare Part D members, and 900,000 Medicaid members.[2] In May 2013, the company was acquired by Aetna for $5.7 billion.

Coventry Health Care
TypeDefunct
IndustryHealth insurance
Founded1986 (1986)
DefunctMay 7, 2013 (2013-05-07)
FateAcquired by Aetna
HeadquartersNorth Bethesda, Maryland (Bethesda mailing address)
Key people
Allen Wise (CEO)
RevenueIncrease US$ 14.113 billion (2012)
Decrease US$ 759.69 million (2012)
Decrease US$ 487.06 million (2012)
Total assetsDecrease US$ 8.750 billion (2012)
Total equityIncrease US$ 4.722 billion (2012)
Number of employees
14,400 (January 2013)
Footnotes / references
[1]

History

The company was founded in 1986 in Nashville by Phil Bredesen.[3]

In August 1998, the company merged with Principal Health Care and moved its headquarters to Bethesda, Maryland.[3]

In October 2000, the company acquired WellPath, the managed care subsidiary of Duke University Health System, for $20.7 million.[4]

In October 2010, the company acquired MHP (Mercy Health Plans), an insurer with approximately 180,000 members in Missouri and northwest Arkansas.[5]

In January 2012, the company acquired Children's Mercy's Family Health Partners.[6]

In May 2013, the company was acquired by Aetna for $5.7 billion.[2][7]

References
  1. "Coventry Health Care, Form 10-K, Annual Report, Filing Date Feb 27, 2013" (PDF). secdatabase.com.
  2. Pfannenstiel, Brianne (May 8, 2013). "Aetna completes acquisition of Coventry Health". American City Business Journals.
  3. Lawson, Richard (November 15, 1998). "Mortgage banker moves into old Coventry space". American City Business Journals.
  4. "Coventry completes WellPath acquisition". American City Business Journals. October 2, 2000.
  5. Lubell, Jennifer (October 1, 2010). "Coventry completes Mercy Health Plans deal". Modern Healthcare.
  6. "Children's Mercy wraps up sale of Medicaid health plan". American City Business Journals. January 11, 2012.
  7. "Aetna Completes Acquisition of Coventry Health Care, Inc" (Press release). Business Wire. May 7, 2013.
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