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Article: Coventry Health Care, Inc. to Acquire New Alliance Health Plan.
- Article from:
- Business Wire
- Article date:
- April 1, 2002
CopyrightCOPYRIGHT 2002 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/Health & Medical Writers
BETHESDA, Md.--(BUSINESS WIRE)--April 1, 2002
Coventry Health Care, Inc. (NYSE: CVH) announced today that its subsidiary, HealthAmerica of Pennsylvania, Inc., has signed a definitive agreement to acquire New Alliance Health Plan in Erie, Pennsylvania.
New Alliance, a privately owned health plan, has approximately 47,000 commercial members. The acquisition will bring Coventry's total membership in Pennsylvania to over 580,000, making it one of the largest health plans in the state. HealthAmerica is the number one rated health plan in Pennsylvania and number six in the nation as ranked by Newsweek.