Expert: Apax Buying Coventry WCS Would Mean Unprecedented Market Consolidation

Although neither company is willing to comment, a managed care expert said this week that Apax Partners has inked a deal to buy Coventry’s workers’ compensation division from Aetna in a move that would further consolidate the market of cost-containment services. Apax Partners, a privately-held equity firm based in the United Kingdom, acquired the workers’ compensation managed care companies Genex last June and One Call Care Management in October 2013. Apax also purchased Align, a workers’ compensation physical medicine network, and folded it into One Call in the deal. ...