Cigna, a health service company, is set to acquire New Jersey-based QualCare Alliance Networks, the parent company of a number of organisations including a captive insurer.
The transaction is expected to close in the first quarter of 2015, following customary regulatory approvals.
“Cigna’s goal is to deliver affordable health care solutions that provide greater value and better health outcomes and experience for our customers,” said Matt Manders, president of US commercial markets and global health care operations for Cigna. “This acquisition is an example of Cigna’s ongoing commitment to being a partner of choice to health care professionals and hospital systems. It demonstrates our focus on partnering with systems and physician groups to deliver next generation health care models.”
John Lloyd, chairman, board of directors, QualCare Alliance Networks, and chief executive officer of Meridian Health, added: "The era of providers relying on volume of care and illness is over. The future is one of serving local communities and focusing on wellness. Today’s decision to have QualCare Alliance Networks join Cigna Corporation will ensure QualCare’s success in this changing environment and enhance the value it can bring to its local communities.”
Cigna, QualCare Alliance, Insurance, Matt Manders, John Lloyd, US