COVENTRY CORPORATION CLOSES TRANSACTION TO SELL DENTAL HMO.NASHVILLE, Tenn.--(BUSINESS WIRE)--Jan. 3, 1997--Coventry Corporation (Nasdaq/NM:CVTY) today announced the completion of its previously announced agreement to sell Champion Dental to First Commonwealth, Inc. (Nasdaq/NM:FCWI) for $5.5 million. Champion Dental is a managed care dental plan in St. Louis and was owned by Group Health Plan, a Coventry subsidiary. Champion Dental provides services to 60,000 members and generated approximately $2.2 million in annual revenues. First Commonwealth specializes in providing dental care and a broad range of innovative dental products designed to meet the needs of a wide range of employer groups employer group Association of employers Managed care An entity with a current group benefits agreement in effect with a health plan to provide covered health care services to its employee-subscribers and eligible dependents. . The transaction received the regulatory approval of the state of Missouri. Allen F. Wise, president and chief executive officer of Coventry said, "We believe this transaction is in the best interests of the members of Champion Dental as well as the stockholders of Coventry. Champion Dental members will be well served by a company specializing in providing dental care, and Coventry will continue to focus on the delivery of cost-effective care while improving quality and enhancing value for our shareholders." 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 Dale B. Wolf, 615/391-2448 |
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