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
CONTACT: Gwyn Dilday of CIGNA Public Relations, +1-818-500-6370,
gwyn.dilday@cigna.com
Web site: http://www.cigna.com/
