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 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
CONTACT: Karen Godlewski, CIGNA HealthCare, +1-215-761-1470,
Karen.Godlewski@cigna.com
Web site: http://www.cigna.com/
Company News On-Call: http://www.prnewswire.com/comp/165050.html
