Coventry Health Care to Buy Florida Health Plan

Coventry Health Care, a Bethesda-based managed-care provider, has agreed to acquire privately held Florida Health Plan Administrators for about $685 million in cash, according to a Coventry statement.

Florida Health owns the Vista Healthplans network, which has 295,000 enrolled members. Vista generates about $1.2 billion in annual revenue, and 85 percent of its members are in South Florida. "This acquisition will expand Coventry's health plan footprint into one of the nation's fastest growing states," Dale B. Wolf, chief executive of Coventry, said.

By Mike Shepard  |  July 9, 2007; 11:21 AM ET  | Category:  Healthcare
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