CIGNA Buys Alegis Care

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In sync with its long term strategy to expand medical home and chronic care services, CIGNA Corp. (CI) has acquired Alegis Care, a multi-specialty, medical health services organization. Alegis Care is a portfolio company of Triton Pacific Capital Partners.
 
Through its various care management programs, Alegis Care deliver specialized, low-cost services ranging from direct patient care for the chronically ill, transitional care from hospital to home and targeted chronic care management programs to comprehensive health assessment services for health plans.
 
Alegis Care’s highly trained physicians and providers utilize proven clinical pathways and medication formularies to reduce preventable hospital admissions and healthcare costs, ultimately delivering improved outcomes for patients and their health plans.
 
The  acquisition of Alegis Care complements perfectly Cigna’s efforts to serve senior members. Via Alegis Care, Cigna will serve the severely ill individuals with chronic disease history.  With the help of Alegis Care, Cigna intends to reduce the medical costs of its members. 
 
Following the acquisition, Alegis Care, will continue to serve members currently under its coverage.  In 2013, Alegis plans to serve approximately 31,000 seniors spanning 10 states.  
 
The acquisition will also aid Cigna to deepen its patient centered medical home initiative. The Patient Centered Medical Home is a health care setting that facilitates partnerships between individual patients, and their personal physicians, and when appropriate, the patient’s family.
 
Care is facilitated by registries, information technology, health information exchange and other means which ensure that patients get the indicated care when and where they need and want it in an appropriate manner.  
 
The cost details of the acquisition along with other terms were not disclosed.
 
Cigna carries a Zacks Rank #2 (Buy). Other stocks Eastern Insurance Holdings, Inc. (EIHI), Kemper Corp. (KMPR), FBL Financial Group Inc. (FFG) under our coverage carry Zacks Rank #1 (Strong Buy) and are worth considering.
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