The health insurance sector saw two takeover deals Monday, both of which aim to add expertise in care coordination and population-health management.
Cigna Corp. agreed to buy QualCare Alliance Networks, a Piscataway, N.J.-based insurer that is owned by health systems and hospitals. The insurance giant emphasized that the combination will allow it to develop additional services for hospitals and physicians such as clinical benchmarking, performance reporting and population analytics.
The deal also fits into its strategy and mantra to “go deep” in certain markets and focus its attention on key regions.
The transaction is expected to close this quarter. QualCare founder and CEO Annette Catino will continue to lead the group.
Centene Corp. also said it has entered into an agreement to buy Agate Resources, a Eugene, Ore.-based holding company that includes a number of health plans as well as a professional credentialing group.
Agate's Trillium Community Health Plan, for instance, offers a Medicare Advantage plan and also sells coverage on Oregon's health insurance marketplace. It's also one of Oregon's coordinated-care organizations, managing the care of Medicaid beneficiaries in Lane County.
The deal is expected to close in the third quarter, pending regulatory approvals.
Centene earlier this month acquired LiveHealthier, a Bethesda, Md.-based technology and services company that aims to help people lead healthier lifestyles. In December 2013, it also took a majority stake in U.S. Medical Management, which offers home-based care services.
That deal followed Cigna's September 2013 acquisition of Chicago-based Alegis Care, which similarly offers home and chronic-care services.
Follow Beth Kutscher on Twitter: @MHbkutscher
