Coventry Health Care to Acquire Maxicare Louisiana.Business Editors BETHESDA, Md.--(BUSINESS WIRE)--May 12, 2000 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
Maxicare Louisiana has approximately 13,500 Commercial members, 600 Medicare-risk members and annual premium revenue of $26 million. The acquisition will bring Coventry's total membership in Louisiana to more than 54,500 members. "We continue to find opportunities to grow our business in markets where we have a good franchise and strong local management," said Allen F. Wise, Coventry's President and Chief Executive Officer. "This acquisition will give our Louisiana plan access to large employer accounts, desirable provider contracts, and additional scale." The transaction is expected to close in the third quarter of 2000, subject to regulatory and other customary approvals. Terms of the transaction were not disclosed. Coventry Health Care is a managed health care company based in Bethesda, Maryland operating health plans under the names Coventry Health and Life, Coventry Health Care, HealthAmerica, HealthAssurance, HealthCare USA, Group Health Plan, Southern Health, SouthCare and Carelink. 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 Risk and Medicaid to 1.5 million members in a broad cross section of employer and government-funded groups in 15 markets throughout the Midwest, Mid-Atlantic and Southeast United States. More information is available on the Internet at http://www.cvty.com. This press release contains 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. These statements relate to future events or future financial performance and may be significantly impacted by certain risks and uncertainties described in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 1999 filed with the Securities and Exchange Commission. |
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