Insight, analysis & opinion from Joe Paduda
While it may not be closed, the deal is done. Multiple sources indicated APAX is scheduled to close the purchase of Coventry Workers’ Comp a month from now. The long-rumored sale will close October 1 – if everything goes according … Continue reading Aetna’s sale of Coventry – the deal is done
Read More...It was perhaps the worst-kept secret in the industry; Aetna’s effort to sell the Coventry work comp business. Now the secret is out, and yes it is true – they are looking to sell the entire thing – network, bill … Continue reading Aetna is selling Coventry Workers’ Comp
Read More...The work comp services market is consolidating – at a very rapid rate. At this pace, pretty soon there will be relatively few entities providing a broad range of claims-related services. And that scares insurers and employers. A lot. Work … Continue reading Work comp’s new Coventry?
Read More...David Young is no longer heading up the Coventry work comp business. His departure, announced to customers after the conclusion of the work comp conference took the work comp management staff (and me) by surprise. Long-time Coventry exec Art … Continue reading Changes at Coventry work comp
Read More...I’ll admit it, I’ve been slacking…It’s now five days since Coventry released their last-ever earnings report, and I’m only now posting on it. Mea culpa; too darn much work. Here are a few quick takeaways followed by my perspective on … Continue reading Coventry’s last earnings report
Read More...As Coventry prepares to become part of Aetna, Coventry’s earnings report marks the last quarterly report we’ll see from Allen Wise and Co. As par usual, I’ll split my review into two parts; workers comp (of most interest to many … Continue reading The last Coventry earnings report ever
Read More...And they’re rather middling… Q3 workers comp revenues were $188 million, down 3.6 percent from Q2’s $195 million and about the same from Q3 2011. While the loss of ESIS’ pharmacy and other business in January was significant, Coventry has … Continue reading Coventry work comp’s Q3 numbers are out
Read More...I’ve heard from several folks contending that Aetna will sell Coventry’s workers comp business, all making essentially the same points. 1. Aetna already has exited comp twice – once when they sold their workers comp insurance business to the Travelers, … Continue reading The case for Aetna’s sale of Coventry’s workers comp business
Read More...That’s a question I’ve been asked a couple dozen times over the last two weeks. For several reasons I don’t see Aetna selling the Coventry workers comp business. 1. It generates a ton of cash. While the financials are a … Continue reading What will Aetna do with Coventry’s work comp business?
Read More...No this is not an April Fools prank. Aetna announcedtoday it will acquire Coventry Healthcare. The transaction is is in cash and stock and is valued at $7.3 billion after accounting for aetna’s assumption of Coventry’s debt. The deal will … Continue reading Aetna to acquire Coventry
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