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Coventry, Via Christi working on Medicare product

Coventry Health Care is working with Via Christi Health to develop a Medicare Advantage product that will be offered beginning in 2011, Coventry chairman and CEO Allen Wise said today.

During a conference call with investors and others, Wise said Coventry had a better-than-expected first quarter that included operating revenues of $2.9 billion and earnings of $97.3 million.

Highlights of the first quarter included closing on the acquisition of Preferred Health Systems, he said. Coventry bought PHS from Via Christi; the acquisition was completed Feb. 1.

"While it is still early in the year, I am pleased with our first quarter financial results particularly given the challenging macroeconomic operating environment," Wise said. "Coventry will continue to focus on our seven core businesses and strive to improve our cost structure which we feel best positions us for future success."

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