COVENTRY CORPORATION APPOINTS NEW CHIEF EXECUTIVE OFFICER.NASHVILLE, Tenn.--(BUSINESS WIRE)--Sept. 23, 1996--Coventry Corporation (Nasdaq/NM:CVTY) announced today that it has appointed Allen F. Wise, age 54, to the position of President and Chief Executive Officer, replacing Lawrence N. Kugelman, who has been serving as the interim President and Chief Executive Officer since December 1995. Mr. Wise, who will assume his new position on October 7th, will also become a member of Coventry's Board of Directors. Mr. Kugelman will remain a director of the Company. John H. Austin, chairman of the Board of Directors of Coventry said, "Under the direction of Larry Kugelman, Coventry is now better positioned to prosper in the managed care environment. Mr. Wise is uniquely qualified to continue the strategy undertaken by Mr. Kugelman and the Board of Directors over the past 10 months. After an exhaustive candidate search, we believe we are indeed fortunate to have Mr. Wise at the helm of the Company. His extensive experience with major managed care firms bodes well for Coventry, and we regard his acceptance of the position as a strong endorsement of the progress we have made and our future potential." Most recently, Mr. Wise served as Executive Vice President for United HealthCare, the nation's largest health care management services company, with responsibility for administration, including the supervision of 10,000 employees in Claims, Customer Services, Information Systems and Real Estate and Corporate Services Activities that combine or consolidate certain enterprise-wide needed support services, provided based on specialized knowledge, best practices, and technology to serve internal (and sometimes external) customers and business partners. . He was also responsible for United HealthCare's specialty companies with annual revenues of over $500 million. Mr. Wise joined United HealthCare, having been an Executive Vice President with MetraHealth. Mr. Wise also served dual roles as Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Independence Blue Cross and Chief Executive Officer and Director of Keystone Health Plan which, during his tenure, was one of the nation's fastest growing HMOs. Mr. Wise also served as a senior officer with U.S. Healthcare U.S. Healthcare is a now-defunct healthcare company. The logo had an apple. The merger with Aetna In 1996, the company merged with Aetna, calling it Aetna U.S. Healthcare. The U.S. Healthcare apple logo was next to the Aetna name, and U.S. Healthcare under it. U.S. from 1985 to 1990. Mr. Wise received a B.A. degree in Economics from Wichita State University Wichita State University (WSU) is an American state-supported university located in the city of Wichita, Kansas. WSU is one of six state universities governed by the Kansas Board of Regents. The current President is Dr. Donald Beggs. . Dr. Austin said in closing, "We are indebted to Mr. Kugelman for his valuable leadership during this interim period. The Company is much more focused in its markets in terms of capitalizing on its most profitable products. We are also grateful to our existing employees who are working tirelessly to return Coventry to its position as one of the nation's premier managed care firms." Coventry Corporation, headquartered in Nashville, Tennessee “Nashville” redirects here. For other uses, see Nashville (disambiguation). Nashville is the capital and the second most populous city of the U.S. state of Tennessee, after Memphis. , is a managed health care company that provides a wide range of health benefits and services to a broad cross section of employer and government-funded groups in Pennsylvania, Ohio, West Virginia West Virginia, E central state of the United States. It is bordered by Pennsylvania and Maryland (N), Virginia (E and S), and Kentucky and, across the Ohio R., Ohio (W). Facts and Figures Area, 24,181 sq mi (62,629 sq km). Pop. , Missouri, Illinois, Virginia and Florida. The Company operates from regional headquarters in Pittsburgh and Harrisburg, Pennsylvania This article is about the capital city of the Commonwealth of Pennsylvania. For other places named Harrisburg, see Harrisburg (disambiguation). Harrisburg is the capital of the Commonwealth of Pennsylvania, a state of the United States of America. ; St. Louis, Missouri; Richmond, Virginia Richmond IPA: [ɹɯʒmɐnɖ] is the capital of the Commonwealth of Virginia, in the United States. ; and Jacksonville, Florida “Jacksonville” redirects here. For other uses, see Jacksonville (disambiguation). Jacksonville is the largest city in the state of Florida and the county seat of Duval County. . CONTACT: Coventry Corporation, Nashville Richard H. Jones, 615/391-2448 Scott Whitaker, 615/231-1159 |
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