Coventry Health Care

Coventry Health Care, Inc. was a health insurer in the United States. It had 3.7 million medical members, 1.5 million Medicare Part D members, and 900,000 Medicaid members.^[2] In May 2013, the company was acquired by Aetna for $5.7 billion.

Coventry Health Care

Company type	Defunct
Industry	Health insurance
Founded	1986; 39 years ago (1986)
Defunct	May 7, 2013 (2013-05-07)
Fate	Acquired by Aetna
Headquarters	North Bethesda, Maryland (Bethesda mailing address)
Key people	Allen Wise (CEO)
Revenue	US$ 14.113 billion (2012)
Operating income	US$ 759.69 million (2012)
Net income	US$ 487.06 million (2012)
Total assets	US$ 8.750 billion (2012)
Total equity	US$ 4.722 billion (2012)
Number of employees	14,400 (January 2013)
Footnotes / references [1]

History

The company was founded in 1986 in Nashville by Phil Bredesen.^[3]

In August 1998, the company merged with Principal Health Care and moved its headquarters to Bethesda, Maryland.^[3]

In October 2000, the company acquired WellPath, the managed care subsidiary of Duke University Health System, for $20.7 million.^[4]

In October 2010, the company acquired MHP (Mercy Health Plans), an insurer with approximately 180,000 members in Missouri and northwest Arkansas.^[5]

In January 2012, the company acquired Children's Mercy's Family Health Partners.^[6]

In May 2013, the company was acquired by Aetna for $5.7 billion, who then outsourced all IT work and laid off thousands of key personnel^[2][7]