MEMPHIS, Tenn., Dec. 1, 2006 /PRNewswire-FirstCall/ -- CIGNA HealthCare
announced today that it has entered into a definitive agreement to acquire
the Memphis-based Mid-South Administrative Group, LLC ("MSAG"). The
acquisition will give CIGNA HealthCare an expanded local presence in
Memphis and West Tennessee.
Existing customers of MSAG may either continue their current
arrangements and access their existing provider networks, or choose from
CIGNA HealthCare's suite of products and services, including access to its
national provider network. In addition, MSAG customers, including Methodist
Health System with approximately 12,000 employees and dependents, may in
the future take advantage of CIGNA HealthCare's industry-leading
capabilities that facilitate member engagement and education, health care
cost and quality information transparency, and health advocacy. CIGNA
HealthCare members can access an extensive suite of online consumer
decision support tools to review detailed plan information, select
benefits, check claims status, compare quality information and cost data on
specialists and outpatient procedures, and compare pharmacy drug prices.
CIGNA HealthCare members may also access an array of health and wellness
services and other programs to help manage chronic conditions.
"CIGNA HealthCare is an industry leader in Memphis, where we have
consistently grown our membership," says John Sorrow, President of
Mid-South Middle Market operations for CIGNA HealthCare. "This acquisition
will further enhance our leadership position in offering area businesses
innovative, affordable, and flexible health care products. This will also
deepen relationships with our network of providers, with whom we share a
commitment to improve the health of Memphis-area residents."
With nearly 200,000 members in Memphis alone, CIGNA HealthCare is one
of the leading health and benefit organizations in Tennessee. The company
is dedicated to improving the health and lives of its members and fellow
Memphis residents as demonstrated by CIGNA's recent sponsorship of Shaping
America's Youth (SAY), a program that launched in Memphis to promote
education to reduce pediatric obesity. In addition, CIGNA HealthCare has
teamed with one of the region's largest health systems, Methodist Health
System, by awarding a CIGNA Foundation grant to provide clinical programs
supporting care for local families in need.
"We are pleased to become part of a strong, national company committed
to quality and service," adds Carole Caylor, Chief Administrative Officer
of MSAG. "CIGNA HealthCare's combination of clinical leadership and
expertise in disease management, health advocacy, and clinical results
reporting, paired with each organization's service history and strong
regional customer base, will help create both a healthier Memphis and an
integrated, better informed, more efficient health care community."
Over the next few weeks, CIGNA HealthCare will work closely with MSAG
to transition and integrate MSAG employees and operations into CIGNA
HealthCare, while continuing to provide superior customer-focused service
to their existing customers. MSAG members who choose CIGNA HealthCare will
be serviced by the CIGNA HealthCare member service centers, which have been
certified by J.D. Power and Associates for providing "An Outstanding
Customer Service Experience."
About CIGNA HealthCare
CIGNA HealthCare, headquartered 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" refers to
various operating subsidiaries of CIGNA Corporation (NYSE: CI). Products
and services are provided by these operating subsidiaries and not by CIGNA
Corporation. These subsidiaries include Connecticut General Life Insurance
Company, Tel- Drug, Inc., Tel-Drug of Pennsylvania, L.L.C., and HMO or
service company subsidiaries of CIGNA Health Corporation.
About MSAG
The privately owned, Memphis-based MSAG designs and administers self-
funded healthcare benefits for nearly 10 regional employers and their
employees, totaling more than 28,000 client members.
For J.D. Power and Associates Certified Call Center Program(SM)
information, visit http://www.jdpower.com.
SOURCE CIGNA HealthCare
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Related links:
http://www.cigna.com
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CONTACT:
Karen Godlewski, CIGNA HealthCare,
+1-215-761-1470, Karen.Godlewski@cigna.com
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