| Coventry Closes Preferred Health Systems Deal
Coventry Health Care Inc. has completed its acquisition
of Preferred Health Systems Inc. (PHS), a wholly-owned subsidiary of
Via Christi Health System Inc. The transaction is expected to be
revenue neutral for 2010, officials said. Financial terms were not
disclosed.
PHS, based in Wichita, Kan., is a commercial health plan
serving more than 100,000 commercial group risk members and 20,000
commercial self-funded members.
As part of the transaction, Coventry is entering into a
long-term provider and customer relationship with Via Christi Health
System and its affiliates.
This acquisition reaffirms Coventry’s commitment
to strengthening its health plan footprint and is consistent with our
focus on our seven core businesses, said Coventry CEO Allen F. Wise.
Once the deal is complete Coventry will serve more than 1 million members in its six state Midwest region.
Address: Coventry Health Care Inc., 6705 Rockledge Drive, Suite 900, Bethesda, MD 20817; (301) 581-0600, www.coventryhealthcare.com.
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