$110 Million Sale of First Health Services by Coventry Health Care

We represented Coventry Health Care, Inc. in the sale of its fee-based Medicaid services subsidiary, First Health Services Corporation, to Magellan Health Services, Inc. (NASDAQ: MGLN) for $110 million. Magellan Health also signed service agreements with Coventry to manage radiology services on a risk basis and to provide oncology management services in five Coventry markets.

Coventry Health Care, Inc. (formerly NYSE: CVH) is a diversified national managed healthcare company operating health plans, insurance companies, network rental and workers’ compensation services companies. It was acquired by Aetna in May 2013.

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