Coventry Health Care said it completed its acquisition of the business of Children’s Mercy’s Family Health Partners, a Medicaid health plan operated by Children’s Mercy Hospital in Kansas City, Mo.

Viewed as a move to strengthen its presence in the Kansas market, Coventry Health Care announced its plan to acquire Preferred Health Systems.

An institutional investor in Coventry Health Care has filed a class-action suit, alleging company executives violated federal securities laws and participated in a “scheme” that caused investors to suffer “economic loss.”

Deeming it an asset that does not fit within the company’s long-term strategy, Coventry Health Care has agreed to sell its fee-based Medicaid Services Business to a Connecticut company for …  Read →