Coventry Health Care

Health insurer in the United States

Coventry Health Care

Company type| Defunct
Industry| Health insurance
Founded| 1986; 39 years ago (1986)
Defunct| May 7, 2013 (2013-05-07)
Fate| Acquired by Aetna
Headquarters| North Bethesda, Maryland (Bethesda mailing address)

Key people

| Allen Wise (CEO)
Revenue|  US$ 14.113 billion (2012)

Operating income

|  US$ 759.69 million (2012)

Net income

|  US$ 487.06 million (2012)
Total assets|  US$ 8.750 billion (2012)
Total equity|  US$ 4.722 billion (2012)

Number of employees

| 14,400 (January 2013)
Footnotes / references
[1]

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

[edit]

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, who then outsourced all IT work and laid off thousands of key personnel[2][7]

## References

[edit]

1. ^ "Coventry Health Care, Form 10-K, Annual Report, Filing Date Feb 27, 2013" (PDF). secdatabase.com.
2. ^ a b Pfannenstiel, Brianne (May 8, 2013). "Aetna completes acquisition of Coventry Health". American City Business Journals.
3. ^ a b 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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Subsidiaries|

* Aetna
* Aetna Health Inc. v. Davila
* Coventry Health Care
* Drivotrainer
* Eight Forty One
* CVS Pharmacy
* CVS Caremark
* MinuteClinic
* Longs Drugs
* Navarro Discount Pharmacies
* Omnicare
* Oak Street Health

Predecessors|

* Arbor Drugs
* Big B Drugs
* Eckerd
* Haag Drug Company
* Hook's Drug Stores
* Melville Corporation
* Osco Drug
* Peoples Drug
* Reliable Drug Stores
* Revco
* Sav-on Drugs
* Standard Drug Company
* SupeRx
* Target Pharmacy

Key people|

* Eliphalet Adams Bulkeley
* Ward Melville
* Thomas Ryan
* Larry Merlo
* Karen S. Lynch
* J. David Joyner

Related|

* CVS Charity Classic
* CVS Health Charity Classic
* CVS/pharmacy LPGA Challenge

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