Press | March 02, 2020

Mitchell l Genex signs agreement to acquire Coventry Workers’ Comp Services, aligning premier medical management and cost containment providers

Combination unites and expands industry-leading solutions to produce better claims outcomes and improve lives of injured parties.

 

SAN DIEGO, CA and Wayne, PA—Mitchell | Genex, a leading provider of cost containment technology, clinical services, and disability management, has announced an agreement to acquire Coventry Workers’ Comp Services from CVS Health (NYSE: CVS). Coventry Workers’ Comp Services is a premier provider of care and cost management programs for workers' compensation and auto insurance carriers, third-party administrators, and self-insured employers. Coventry Workers’ Comp Services is currently a division of Aetna, a CVS Health company.

With this acquisition, Mitchell | Genex will expand its capabilities, and add Coventry’s leading PPO network to its continuum of care and cost containment offerings. The inclusion of Coventry Workers’ Comp Services will make the company one of the country’s premier workers’ compensation and auto network providers.

“For decades, Coventry has been synonymous with excellence in the industry,” said Peter Madeja, Genex Services President and CEO. “We are extremely proud and excited about adding another long-standing, reputable organization to the Mitchell | Genex team. This move will expand the breadth of our cutting-edge cost containment technology and clinical services with the deepest understanding of the workers’ compensation industry and will significantly build upon our network offerings. It reinforces our continuous commitment to help clients navigate through today’s challenges and build better outcomes to improve the lives of injured parties.”

“We’re very proud to add Coventry to the Mitchell | Genex team,” said Alex Sun, Mitchell President and CEO. “Our goal is to transform our clients’ experiences by integrating products and services to create solutions that help simplify the client experience, leverage our inventory of data and optimize workflows—all with the goal of improving claims outcomes. This is a natural extension of our combined strategy to further expand the value we deliver to our clients across the property and casualty industry.”

Based in Downers Grove, IL, Coventry Workers’ Comp Services has been a leading full-service managed care organization for more than 35 years. The company brings approximately 2,000 professionals with deep industry expertise, along with a broad suite of services—network, clinical and specialty—powered by technology to enhance network development, clinical integration and operational efficiencies with a focus on total claims cost. Following the closing of this acquisition, Coventry Workers’ Comp will continue to be led by Art Lynch, President and CEO, and operate under its brand.

“We are very excited to join Mitchell | Genex and further meet the needs of our ever-changing industry,” said Lynch. “This is a forward-thinking partnership that combines one of the most robust PPO networks with an equally positioned firm in cost containment technology and clinical solutions. These capabilities, when combined with artificial intelligence and advanced analytics, will maximize our clients’ performance today and into the future.”

Kramer Levin Naftalis & Frankel LLP and Axinn, Veltrop & Harkrider LLP are acting as legal advisors to Mitchell | Genex. Fried, Frank, Harris, Shriver & Jacobson LLP and Dechert LLP are acting as legal advisors to CVS Health. BofA Securities is acting as exclusive financial advisor to CVS Health.

The acquisition is subject to customary closing conditions, including applicable regulatory approvals. The financial terms of the transaction are not being disclosed.

About Mitchell | Genex

Mitchell | Genex simplifies, enhances and accelerates property, casualty and disability claim processes through the broadest continuum of technology and services, best-in-class clinical and pharmacy solutions, an expansive range of networks and unparalleled access to data analytics that drive better outcomes for our clients and enhance the lives of injured and disabled employees. As a combined company, we have brought together the leading experts in cost containment, clinical services and medical compliance to increase our value to clients and help injured workers return to health quickly. For more information, please visit mitchell.com and genexservices.com.

About Coventry Workers’ Comp Services

Coventry Workers’ Comp Services offers workers’ compensation and auto care-management and cost-containment solutions for employers, insurance carriers, and third-party administrators. With roots in both clinical and network services, Coventry leverages more than 35 years of industry experience, knowledge, and data analytics. As a part of Aetna, its mission is returning people to work, to play, and to life. And its care management and cost-containment solutions do just that. Its networks, clinical solutions, specialty programs, and business tools will help you focus on total outcomes. For more information, please visit coventrywcs.com.

About CVS Health

CVS Health employees are united around a common goal of becoming the most consumer-centric health company in the world. We’re evolving based on changing consumer needs and meeting people where they are, whether that’s in the community at one of our nearly 10,000 local touchpoints, in the home, or in the palm of their hand. Our newest offerings – from HealthHUB® locations that are redefining what a pharmacy can be, to innovative programs that help manage chronic conditions – are designed to create a higher-quality, simpler and more affordable experience. Learn more about how we’re transforming health at cvshealth.com.

 

The Latest in

Filter By

Related News

{{ArticleCategory(article)}} MPower

{{article.Title}}

@Mitchell_Intl

{{article.ShortDescription | text}}

More News

Leaders can employ three key principles to guide a remote employee engagement strategy: Connect, Inform and Support. https://t.co/JCyHQMdX2s via @WorkCompWire Leaders can employ three key principles to guide a remote employee engagement strategy: Connect, Inform and Support. https://bit.ly/3aysNVC via @WorkCompWire
Health literacy is one factor that can play a significant role in delayed recovery from an injury. Learn best practices to foster improved health literacy. https://t.co/FSLy1v4lSq Health literacy is one factor that can play a significant role in delayed recovery from an injury. Learn best practices to foster improved health literacy. https://bit.ly/3cG1g5U
The mPower Newsletter features industry insights for the P&C world. This edition includes articles on #EV market trends, vehicle-to-vehicle communications, topical medications in workers' comp, #cobotics in insurance and more. View the newsletter here - https://t.co/7BhdUhRkYZ https://t.co/ue1j8hYWjr The mPower Newsletter features industry insights for the P&C world. This edition includes articles on #EV market trends, vehicle-to-vehicle communications, topical medications in workers' comp, #cobotics in insurance and more. View the newsletter here - https://bit.ly/2Jwl0f8

From a drug-therapy perspective, current alternatives to opioids include NSAIDs, anticonvulsants and occasionally certain antidepressants. https://t.co/loOG8SWN6w From a drug-therapy perspective, current alternatives to opioids include NSAIDs, anticonvulsants and occasionally certain antidepressants. https://bit.ly/2Og777A
Thank you to all of our nation's brave, hardworking medical professionals on this #NationalDoctorsDay. https://t.co/JrOSup2cyz Thank you to all of our nation's brave, hardworking medical professionals on this #NationalDoctorsDay.

Updates and data on the average length of rental for repairable vehicles for the fourth quarter of 2019 in both the United States and Canada. https://t.co/KGZWQc3Q18 Updates and data on the average length of rental for repairable vehicles for the fourth quarter of 2019 in both the United States and Canada. https://bit.ly/3aHE5Gt
Our Industry Trends Report shares insights from experts on challenges for #insurance executives in the auto collision market, strategies for improving #claims processing, & predictions for the 2020 #workerscomp market #repairs. https://t.co/H2rlfaOHmN Our Industry Trends Report shares insights from experts on challenges for #insurance executives in the auto collision market, strategies for improving #claims processing, & predictions for the 2020 #workerscomp market #repairs. https://bwnews.pr/39IS9zq
Includes insights on auto collision damage in the electric vehicle market, strategies for improving claims processing accuracy, 2020 workers' comp market predictions, and insights on the fee schedule for Michigan’s new no-fault insurance law. https://t.co/t4Bloh4glA Includes insights on auto collision damage in the electric vehicle market, strategies for improving claims processing accuracy, 2020 workers' comp market predictions, and insights on the fee schedule for Michigan’s new no-fault insurance law. https://bit.ly/3cFT5qe
Mitchell's Senior Vice President, Shahin Hatamian, addresses how organizations can incorporate claims automation tactics to improve outcomes and processes. https://t.co/NdsWxzN9rJ Mitchell's Senior Vice President, Shahin Hatamian, addresses how organizations can incorporate claims automation tactics to improve outcomes and processes. https://bit.ly/2wKJlLl
The growth seen in the frequency of calibrations over the last two years is likely only the beginning of a steeper increase to come. https://t.co/BUztcALogq The growth seen in the frequency of calibrations over the last two years is likely only the beginning of a steeper increase to come. https://bit.ly/39uwwlP
As the COVID-19 pandemic continues to evolve, changes to telemedicine and the time to process claims are a few trends we expect to see in the #workerscomp and auto casualty industries. https://t.co/BaOO2grikc As the COVID-19 pandemic continues to evolve, changes to telemedicine and the time to process claims are a few trends we expect to see in the #workerscomp and auto casualty industries. https://bit.ly/2yed67G
Three factors driving the shift towards claims virtualization. https://t.co/tYUbTiomqN Three factors driving the shift towards claims virtualization. https://bit.ly/2QRUBwb
Q1 Industry Trends Report | Casualty Edition https://t.co/gKWPQsBrL5 Q1 Industry Trends Report | Casualty Edition https://bit.ly/2wJD42c
Technology-enabled services can provide a variety of benefits to claims organizations including flexibility, scalability and easier integration processes. https://t.co/oDhgVcly5A Technology-enabled services can provide a variety of benefits to claims organizations including flexibility, scalability and easier integration processes. https://bit.ly/2TwYB7o
Current advances are paving the way for true touchless claims technologies. https://t.co/TMGX0SE1xz via @RiskInsurance Current advances are paving the way for true touchless claims technologies. https://bit.ly/3bq5Unp via @RiskInsurance

Terms of Use | Privacy Practices | Copyright & Usage | [+} Report a Problem
© 2019 Mitchell International, Inc. All Rights Reserved.
By accessing Mitchell.com, each user agrees that they have read and agreed to be bound by the
Terms and Conditions governing Mitchell.com and Privacy Policies governing Mitchell.com.


paykasa bozdurma paykwik bozdurma