Coventry Health Care to Acquire Additional Membership in Central Illinois.Business Editors/Health/Medical Writers BETHESDA, Md.--(BUSINESS WIRE)--Jan. 14, 2004 Coventry Health Care Coventry Health Care, Inc. (Coventry) (NYSE: CVH) is a managed health care company in the United States. On February 8th of 2007 Coventry agreed to acquire Concentra's Workers Compensation Managed Care Services Businesses. External links
See: New York Stock Exchange :CVH CVH Helicopter Carrier CVH Compound-valve-angle Hemispherical Combustion-chamber (Ford cylinder head design and family of engines) CVH Compound Valve Angle Hemispheral Combustion Chamber CVH continuous venous hemodialysis ) announced today that its Illinois subsidiary, PersonalCare, has entered into a renewal rights agreement with Rockford Health System whereby PersonalCare will serve as the carrier of choice for the transition of Rockford Health Plans' business. Rockford Health Plans is a for-profit plan wholly owned by Rockford Health System. The health plan covers a seven-county service area and provides health benefits to approximately 14,000 fully insured commercial members and 6,000 full-service self insured members. Under the terms of the agreement, Rockford Health System providers will become participating providers in PersonalCare's network. The agreement is expected to commence upon final regulatory approvals. "This agreement serves to further build on the presence Coventry established in Illinois when we acquired PersonalCare in early 2003," said Allen F. Wise, Coventry's President and Chief Executive Officer. "We look forward to working with Rockford Health System, leveraging their high quality health services health services Managed care The benefits covered under a health contract and our disciplined underwriting approach." "The board of directors and senior management of Rockford Health System have decided to focus on their core business, which is providing high quality healthcare services to the community," said Gary E. Kaatz, President and Chief Executive Officer of Rockford Health System. "That is why we have decided to exit the managed care business and transition member coverage to other managed care plans. Rockford Health Plans has selected PersonalCare as the preferred successor carrier due to its outstanding reputation for providing high quality benefits and customer service. We feel strongly that Coventry and PersonalCare will be an excellent option for many of our current group customers." This press release may contain forward-looking statements, made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, relating to future events or future financial performance. Actual performance may be significantly impacted by certain risks and uncertainties, including those described in the Company's Annual Report on Form 10-K for the year ended December 31, 2002 filed with the Securities and Exchange Commission (SEC). Coventry Health Care is a managed health care company based in Bethesda, Maryland operating health plans and insurance companies under the names Altius Health Plans, Coventry Health Care, Coventry Health and Life, Carelink Health Plans, Group Health Plan, HealthAmerica, HealthAssurance, HealthCare USA, PersonalCare, SouthCare, Southern Health and WellPath. The Company provides a full range of managed care products and services, including HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, , PPO PPO abbr. preferred provider organization PPO Managed care Preferred provider organization, see there Infectious disease Pleuropneumonia-like organism, see there , POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale , Medicare+Choice, Medicaid, and Network Rental to 3.1 million members in a broad cross section of employer and government-funded groups in 14 markets throughout the Midwest, Mid-Atlantic and Southeast United States. More information is available on the Internet at http://www.cvty.com. |
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