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Mitchell International Inc. will acquire Coventry Workers Comp Services from CVS Health, the company announced in a statement Monday.
Financial terms of the deal were not disclosed.
Under terms of the acquisition, Mitchell/Genex, which includes San Diego-based Mitchell and Wayne, Pennsylvania-based Genex Services LLC, a division of Mitchell, will add Coventry’s preferred provider organization to its cost containment and clinical services and gain 2,000 employees.
Coventry, a provider of care and cost management programs for workers compensation, auto insurance, third-party administrators and self-insured employers, had been a division of Aetna, a CVS company. Downers Grove, Illinois-based Coventry will continue to be led by president and CEO Art Lynch and operate under its brand, according to the statement.
In December, Mitchell/Genex acquired managed care services firm CompAlliance LLC, based in Kansas City, Missouri.
(Reuters) — Aetna Inc., the third-largest U.S. health insurer, on Tuesday reported a higher second-quarter profit that beat analyst expectations, helped by last year's acquisition of Medicare and Medicaid provider Coventry Health Care.