Article: Nashville, Tenn., Mayor to Leave Board of HMO He Founded.(Originated from Nashville Banner, Tenn.)

Nov. 5--Mayor Phil Bredesen will step down from the board of the company he co- founded after the $375 million deal between Coventry Corp. and Maryland-based Principal Health Care closes.

Nashville-based Coventry said Tuesday it is moving to Bethesda, Md., after acquiring the subsidiary of Des Moihnes, Iowa,-based Principal Financial Group.

Coventry, a managed care company, will combine with Principal Health Care to form Coventry Health Care.

Bredesen co-founded the company in 1986 and stepped down as chairman in 1990, but he has a seat on the board of directors. He is the company's largest shareholder, owning 5 percent of Coventry's ...

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