Coventry Health Care, Bethesda, Md., has completed the acquisition of 180,000-member Mercy Health Plans, the Sisters of Mercy Health System announced.
Coventry completes Mercy Health Plans deal
Mercy Health Plans or MHP, headquartered in Chesterfield, Mo., was established in 1984 as a subsidiary of the St. Louis-based Sisters of Mercy Health System. “The acquisition of MHP increases Coventry’s membership to over 1.2 million members in a six-state Midwest region,” according to a news release from the Sisters of Mercy.
Health plan coverage will not change for individual and company members of MHP through the duration of their current contract periods, and MHP’s Medicare Advantage plans will also be continuing for seniors.
Financial terms of the sale were not disclosed. The Federal Trade Commission cleared this acquisition last week.
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