Coventry Health (CVH) Acquires Preferred Health Systems
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Coventry Health Care, Inc. (NYSE: CVH) signed a definitive agreement to acquire Preferred Health Systems, Inc., a wholly-owned subsidiary of Via Christi Health System, Inc.
PHS, based in Wichita, Kansas, is a commercial health plan serving more than 100,000 commercial group risk members and 20,000 commercial self-funded members.
As part of the transaction, Coventry is entering into a long-term provider and customer relationship with Via Christi Health System and its affiliates.
The transaction is expected to close in the next 90 to 120 days subject to closing conditions and regulatory and other customary approvals. The transaction is expected to be neutral to earnings in the first year after closing. Financial terms of the transaction were not disclosed.
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