Cigna to Purchase New Jersey-based QualCare Alliance Networks, Inc.

Cigna has entered into an agreement to purchase New Jersey-based QualCare Alliance Networks (QANI).

According to a media release, the agreement combines Cigna's broad and integrated portfolio of health-related products and services and national scale with QANI's expertise and capabilities in working with hospital systems to drive development, affordability and value.

The transaction is expected to close in the first quarter of 2015, following customary regulatory approvals.

QANI will continue to offer its full suite of existing products and services and will continue to be led by Annette Catino, QANI's founder and chief executive officer. Cigna and QANI together will focus on locally-tailored innovations to drive customer engagement and meet personal health needs. They will also offer hospital systems and physician groups a broad suite of both managed services and solutions. Examples include multi-tier plan administration, population analytics, performance reporting and management, clinical benchmarking and other services.

"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 U.S. 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."

"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," said John K. Lloyd, chairman, Board of Directors, QualCare Alliance Networks, Inc. and CEO of Meridian Health. "Today's decision to have QualCare Alliance Networks join Cigna Corp. will ensure QualCare's success in this changing environment and enhance the value it can bring to its local communities."

Cigna Corp. is a global health service company.

QualCare Alliance Networks was founded to serve as the parent organization to the following companies: QualCare, New Jersey's provider-sponsored, managed care company; Qual-Lynx, a workers' compensation managed care provider and multi-state third party administrator for property, casualty and workers' compensation; Health-Lynx, the region's backbone for establishing Accountable Care Organizations; QualCare Captive Insurance Company, Inc., a sponsored cell captive insurance structure approved by the Captive Division in New Jersey; and QualCare Management Resources, Inc., a newly- created company which provides insurance management and financial services to regulated insurance programs.

More Information:

http://www.cigna.com

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