Coventry Health Care Completes Acquisition of OmniCare Health Plan

Business Wire, Oct 1, 2004

BETHESDA, Md. -- Coventry Health Care, Inc. (NYSE:CVH) announced today that it has completed its previously announced acquisition of OmniCare Health Plan. OmniCare has approximately 63,000 Medicaid members with annual revenues of approximately $150 million.

Coventry Health Care is a managed health care company based in Bethesda, Maryland operating health plans and insurance companies under the names Coventry Health Care, Coventry Health and Life, Altius Health Plans, Carelink Health Plans, Group Health Plan, HealthAmerica, HealthAssurance, HealthCare USA, OmniCare, PersonalCare, SouthCare, Southern Health and WellPath. The Company provides a full range of managed care products and services, including HMO, PPO, POS, Medicare Choice, Medicaid, and Network Rental to 3.2 million members in a broad cross section of employer and government-funded groups in 15 markets throughout the Midwest, Mid-Atlantic and Southeast United States. More information is available on the Internet at http://www.cvty.com.

This press release may contain forward-looking statements, made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, relating to future events or future financial performance. Actual performance may be significantly impacted by certain risks and uncertainties, including those described in the Company's Annual Report on Form 10-K for the year ended December 31, 2003 filed with the Securities and Exchange Commission (SEC).