NU Online News Service, April 1, 10:29 a.m. – Coventry Health Care Inc., Bethesda, Md., says a subsidiary, HealthAmerica of Pennsylvania Inc., will buy New Alliance Health Plan, Erie, Pa., through a stock purchase.
The value of the deal and other terms were not disclosed.
New Alliance, a privately owned health plan, has about 47,000 commercial members, Coventry says. The acquisition will increase Coventry’s total membership in Pennsylvania to more than 580,000.
Included in the acquisition are long-term provider and employer group agreements with the Hamot Health Foundation/Medical Center and the Saint Vincent Health System, two major Erie provider systems.