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