Cigna has entered into an agreement to purchase New Jersey-based QualCare Alliance Networks (QANI).
The agreement combines Cigna's portfolio of health-related products and services with QANI’s expertise and capabilities in working with hospital systems.
The transaction is expected to close during Q1 of 2015, following customary regulatory approvals.
The alliance has stated that it will continue to offer its full suite of existing products and services and will continue to be led by Annette Catino, QANI’s founder and CEO.
QANI was founded in 1993 to serve as the parent organisation to: Qual-Lynx, a workers’ compensation managed care provider and multi-state third party administrator for property, casualty and workers’ compensation; QualCare Captive Insurance Company, the first sponsored cell captive insurance structure approved by the captive division in New Jersey; and QualCare Management Resources, which provides insurance management and financial services to regulated insurance programmes.
Headquartered in New Jersey, QANI serves approximately 200,000 customers in self-funded health plans and has more than 900,000 customer relationships, including network access arrangements for workers’ compensation and other products.
