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Coventry Acquires Workers' Comp Business

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A managed care company is expanding a division that manages care for workers hurt on the job.

Coventry Health Care Inc., Bethesda, Md., says it will be paying about $387 million for units of Concentra Inc., Addison, Texas, that manage the care that injured workers receive through workers’ compensation programs.

The units generated about $324 million in fee revenue in 2006, Concentra estimates.

Coventry hopes to complete the deal by November.

Coventry is acquiring Concentra’s workers’ compensation preferred provider organization, provider bill review, pharmacy benefit management, field case management, telephonic case management and independent medical exam operations.

Concentra will keep health centers and other businesses, and Coventry expects to form a long-term relationship with the Concentra health centers, Coventry says.