Today, Coventry Health Care, Inc. announced it has signed a agreement to purchase the business of Children’s Mercy’s Family Health Partners. Family Health Partners is a Medicaid health plan that is operated by Children’s Mercy Hospital, Kansas City.
Family Health Partners has 210,000 Medicaid members with approximately 155,000 members in the State of Kansas and 55,000 members in the State of Missouri. They have annual revenues of more than $450 million.
Coventry will serve nearly 900,000 Medicaid recipients across 10 states and more than 1.5 million members in its seven-state Midwest region.
The CEO of Coventry, Allen F. Wise, said, “”This transaction will expand our Medicaid operations while strengthening Coventry’s presence in the Kansas and Missouri markets. We are pleased to enhance our long-standing relationship with Children’s Mercy Hospital, a nationally recognized children’s hospital and a premier provider of pediatric care in Kansas City and the surrounding areas in Kansas and Missouri. This acquisition furthers Coventry’s commitment to growing our Medicaid business and builds on our local health plan model by serving members through a strong presence in the community.”
The transaction is expected to close in the first quarter of 2012. Coventry will serve nearly 900,000 Medicaid recipients across 10 states and more than 1.5 million members in its seven-state Midwest region.