Acquisition strengthens CIGNA HealthCare network, enhances CIGNA's
competitive position in Indiana
BLOOMFIELD, Conn., Aug. 1, 2007 /PRNewswire-FirstCall/ -- CIGNA
HealthCare announced today that it has acquired Sagamore Health Network,
Inc., the largest leased health care provider network in Indiana.
Sagamore provides access to an extensive preferred provider network
consisting of 9,400 primary care physicians, 26,600 specialists, 1,100
ancillary providers and 210 hospitals. Sagamore also offers access to a
broad range of utilization review and case management services. The company
serves health claims payer organizations, self-insured employers and
third-party administrators (TPAs) in Indiana and parts of Kentucky and
Ohio.
The terms of the purchase were not disclosed.
"Sagamore has a far-reaching network, an excellent product and service
portfolio and it excels at identifying and meeting the needs of its payer,
employer and TPA customers," said David M. Cordani, president, CIGNA
HealthCare.
"Acquiring Sagamore bolsters our competitive position in the region and
strengthens the CIGNA HealthCare network," Cordani said. "It also adds
significantly to the range of health benefit choices available to Indiana
consumers and, in the process, brings strong new competition to the state's
health benefits and services marketplace. We're going to work closely with
Sagamore to enhance the quality and service that Sagamore clients -- and
the approximately 300,000 members they serve -- already receive through the
Sagamore network.
"Ultimately, our goal in this in acquisition is to help improve the
health, well-being and security of the people of Indiana and the
surrounding area."
CIGNA HealthCare currently serves approximately 150,000 medical plan
members in Indiana. CIGNA Dental, the dental care unit of CIGNA HealthCare,
serves 110,000 dental plan members in the state.
Cordani added that Sagamore will continue to operate under its own
brand, as it has historically, and employ the same approach that has helped
the company earn a reputation for quality, customer service and competitive
pricing.
The acquisition follows an agreement signed earlier this year, under
which Sagamore was already offering access to its network to members of two
CIGNA plans, said Greg Yust, president of Sagamore Health Network.
"This transaction is a natural outgrowth of our excellent working
relationship with CIGNA," Yust said. "We'll eventually be adding to the
Sagamore portfolio a broad spectrum of CIGNA resources, capabilities and
value-added health and wellness programs, and we'll be able to offer
Sagamore payers and producers an even greater range of product and service
options."
About Sagamore Health Network
Sagamore Health Network, Inc, the largest and oldest leased health
provider network option in Indiana provides access to over 200 hospital and
30,000 provider locations within a five-state area in the Midwest. Sagamore
Health Network, Inc. offers multiple provider network options including a
point of service product, as well as a suite of health management products
and state of the art administrative services to over 200 third-party
administrators and insurance companies.
About CIGNA HealthCare
CIGNA HealthCare, based in Bloomfield, CT, provides medical benefits
plans, dental coverage, behavioral health coverage, pharmacy benefits and
products and services that integrate and analyze information to support
consumerism and health advocacy. "CIGNA HealthCare" is a registered service
mark of CIGNA Intellectual Property, Inc., licensed for use by CIGNA
Corporation (NYSE: CI) and its operating subsidiaries, including
Connecticut General Life Insurance Company. Products and services are
provided by such operating subsidiaries, and not by CIGNA Corporation. For
more information, visit http://www.cigna.com .
SOURCE CIGNA HealthCare
 back to top
Related links:
http://www.cigna.com
CONTACT:
Gwyn Dilday of CIGNA Public Relations,
+1-818-500-6370, gwyn.dilday@cigna.com
|
