Cigna To Buy QualCare

(RTTNews) - Health service company Cigna (CI) on Monday agreed to buy New Jersey-based QualCare Alliance Networks Inc ("QANI"). The financial terms of the deal were not disclosed.

The deal combines Cigna's broad portfolio of health-related products and services and national scale with QANI's expertise in working with hospital systems to drive innovation and affordability.

The deal is expected to close in the first quarter of 2015.

QANI serves about 200,000 customers in self-funded health plans and has more than 900,000 customer relationships. It is currently owned by 16 non-profit hospitals and physician-hospital organizations.