BLOOMFIELD, Conn., September 03, 2013 - Cigna (NYSE: CI) announced today it has completed its acquisition of Alegis Care, a portfolio company of Triton Pacific Capital Partners. Alegis Care is a multi-specialty, medical health services organization dedicated to creating a comfortable medical home experience for homebound Medicare and Medicaid patients. Alegis Care specializes in serving the chronically ill and elderly with physician services, comprehensive care coordination and a high level of patient care in the safety and comfort of a patient's own home or place of residence.
"Improving the medical home experience by providing access to affordable and convenient health care is a growing essential service for our homebound senior customers, and based on the successful relationship and results we've shared with Alegis Care since 2009, I'm pleased to announce this acquisition that is highly complementary to our business strategy," Cigna-HealthSpring President Herb Fritch said. "Together, we will make it easier for seniors to experience the full range of coordinated health care services, working with their own physician, and in the most appropriate setting for their needs."
Alegis Care, founded in 1995 and headquartered in Chicago, will remain focused on chronic care management for severely ill individuals, and continue to serve its current clients and customers, including health care systems and other payers, as a Cigna company. In 2013, Alegis Care will provide services to nearly 31,000 seniors across 10 states, including Cigna-HealthSpring customers in Delaware, Illinois, Maryland, Pennsylvania and Washington, D.C. Cigna plans to leverage Alegis Care capabilities and services for its broad base of Medicare Advantage customers with the goal of improving the quality of service while reducing cost.
"Cigna's commitment to bringing quality primary care services directly to its homebound senior customers afflicted with multiple chronic conditions aligns perfectly with the mission and commitment of Alegis Care and its managed practices," said Edmund Bujalski, CEO of Alegis Care. "Everyone on our team is pleased to be part of the Cigna-HealthSpring family. We see this acquisition as significantly enhancing our ability to serve our diverse customer base, supported by substantially deeper resources than we would have on our own."
The terms of the deal were not disclosed.
Cigna Corporation (NYSE: CI) is a global health service company dedicated to helping people improve their health, well-being and sense of security. All products and services are provided exclusively through operating subsidiaries of Cigna Corporation, including Connecticut General Life Insurance Company, Cigna Health and Life Insurance Company, Life Insurance Company of North America, Cigna Life Insurance Company of New York and their affiliates. Such products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy and vision care benefits, and other related products including group disability, life, and accident coverage. Cigna has sales capability in 30 countries and jurisdictions, with approximately 80 million customer relationships throughout the world. To learn more about Cigna®, including links to follow us on Facebook or Twitter, visit www.cigna.com.
Cigna-HealthSpring is one of the country's leading health plans focused on delivering care to the senior population, predominately through Medicare Advantage and other Medicare and Medicaid products. Cigna-HealthSpring serves over one million customers in locations across the country. Based in Nashville, Tennessee, Cigna-HealthSpring operates health plans in Alabama, Arizona, Arkansas, Delaware, Florida, Georgia, Illinois, Maryland, Mississippi, New Jersey, Oklahoma, Pennsylvania, Tennessee, Texas, West Virginia and Washington, D.C. Cigna-HealthSpring also offers a national stand-alone prescription drug plan. For more information, visit www.cignahealthspring.com.
About Alegis Care
Alegis Care improves health care delivery and outcomes by providing excellent physician services, comprehensive care coordination, and the highest level of patient care in the safety and comfort of a patient's own home. Alegis Care serves customers in Delaware, Illinois, Indiana, Maryland, Michigan, New Jersey, Pennsylvania, Utah, Washington, Washington, D.C. and Wisconsin.