Coventry Health Care, Inc. was a health insurer in the

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

. It had 3.7 million medical members, 1.5 million

Medicare Part D Medicare (United States), Medicare Part D, also called the Medicare prescription drug benefit, is an optional United States federal-government program to help Medicare beneficiaries pay for self-administered prescription drugs. Part D was enact ...

members, and 900,000

Medicaid Medicaid is a government program in the United States that provides health insurance for adults and children with limited income and resources. The program is partially funded and primarily managed by U.S. state, state governments, which also h ...

members. In May 2013, the company was acquired by

Aetna Aetna Inc. ( ) is an American managed health care company that sells traditional and consumer directed health care insurance and related services, such as medical, pharmaceutical, dental, behavioral health, long-term care, and disability plans, ...

for $5.7 billion.

History

The company was founded in 1986 in

Nashville Nashville, often known as Music City, is the capital and List of municipalities in Tennessee, most populous city in the U.S. state of Tennessee. It is the county seat, seat of Davidson County, Tennessee, Davidson County in Middle Tennessee, locat ...

Phil Bredesen Philip Norman Bredesen Jr. (; born November 21, 1943) is an American politician and businessman who served as the 48th governor of Tennessee from 2003 to 2011. A member of the Democratic Party (United States), Democratic Party, he was elected in ...

. In August 1998, the company merged with Principal Health Care and moved its headquarters to Bethesda, Maryland. In October 2000, the company acquired WellPath, the managed care subsidiary of

Duke University Duke University is a Private university, private research university in Durham, North Carolina, United States. Founded by Methodists and Quakers in the present-day city of Trinity, North Carolina, Trinity in 1838, the school moved to Durham in 1 ...

Health System, for $20.7 million. In October 2010, the company acquired MHP (Mercy Health Plans), an insurer with approximately 180,000 members in Missouri and northwest Arkansas. In January 2012, the company acquired Children's Mercy's Family Health Partners. In May 2013, the company was acquired by

for $5.7 billion, who then outsourced all IT work and laid off thousands of key personnel

References

{{CVS Health, state=autocollapse 2013 mergers and acquisitions Aetna Companies formerly listed on the New York Stock Exchange Health care companies established in 1986