Coventry Health Care / CVH
About Coventry Health Care
6705 Rockledge Dr., Suite 900, Bethesda, Md. 20817
www.cvty.com
| 301-581-0600
| Founded: 1986
Industry: Health Care | Category: Public Companies
A large part of Coventry's year was spent on a national rollout of the Medicare Part D prescription drug benefit that began in January 2006. The company boasts that it ranks sixth among the private insurers providing the Part D plan.
Coventry said in February that it will buy Concentra Operating's workers' compensation managed-care business for $387.5 million. The Concentra units provide bill-review and case-management services, medical exams and pharmacy-benefits management for workers' compensation programs, which generated about $324 million in revenue in 2006, the companies said.
Coventry and Concentra, of Addison, Tex., expect the transaction, which is subject to regulatory approval, to close this year.
Chairman and CEO: Allen Wise
2006 Financial Data
Revenues: $7,733,756,000 | Net Income: $560,045,000Asssets: $5,665,107,000 | Earnings Per Share: $3.47
Total employees: 10,250 | Local employees: 300
Company Leadership
| Dale B. Wolf | CEO |
| Thomas P. McDonough | President |
| Harvey C. DeMovick Jr. | EVP |
| Francis S. Soistman Jr. | EVP |
| Shawn M. Guertin | EVP and CFO |
Source: Compensation data provided by Equilar, Inc..
| Dale B. Wolf CEO | $12,937,001 Salary: $850,000 |
| Thomas P. McDonough President | $9,432,787 Salary: $850,000 |
| Harvey C. DeMovick Jr. EVP | $4,670,942 Salary: $600,000 |
| Francis S. Soistman Jr. EVP | $4,119,697 Salary: $525,000 |
| Shawn M. Guertin EVP and CFO | $3,402,288 Salary: $475,000 |
Did You Know
Coventry Health Care Inc. is a managed-health-care firm that offers HMOs and insurance plans under various trade names. It has some of the highest profit margins in the business due to low administrative costs.
