Principal Health Care buys St. Louis HMO

Maryland Watch

March 06, 1996

Principal Health Care of Rockville yesterday announced the purchase of MetraHealth, a St. Louis health maintenance organization with 31,000 members.

MetraHealth will be merged into an HMO operated by Principal in Louis, creating one plan with 55,000 members.

Principal Health Care is a national managed-care company. When its recently announced acquisition of the Admar Group is completed, it will serve more than 3 million members.

In this area, Principal's mid-Atlantic plan has 30,000 members in Maryland, the District of Columbia and Virginia, and its Delaware plan has 80,000 members.

Principal's products include traditional HMOs, point-of-service plans (with partial coverage for out-of-plan treatment) and preferred provider organizations.

It is part of the Principal Financial Group, a collection of insurance and financial services companies based in Des Moines, Iowa, and managing $57 million in assets.

"The purchase of MetraHealth HMO further strengthens our position in the St. Louis marketplace," said Ken Linde, president and chief executive officer.

Pub Date: 3/06/96

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