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Article: Coventry Health Care to Acquire Additional HMO Membership in St. Louis Area.
- Article from:
- Business Wire
- Article date:
- May 17, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
BETHESDA, Md.--(BUSINESS WIRE)--May 17, 2001
Coventry Health Care, Inc. (NYSE:CVH) today announced that its subsidiary, Group Health Plan (GHP) has reached an agreement with Aetna Inc. (NYSE:AET) whereby GHP will act as the replacement carrier of Aetna's St.Louis area commercial HMO customers.
Aetna's St.Louis area HMO members will be directly marketed to by GHP as Aetna winds down its HMO-based St.Louis area operations. The agreement with Aetna will be exclusive to GHP. Terms of the agreement were not disclosed.
"Coventry has achieved an average of 11% membership growth from acquisitions over the past two years, and ...