CIGNA recently signed an agreement to purchase Great-West Healthcare from Great-West Life & Annuity Insurance Company. The transaction, which includes our suite of products, distribution and service operations, and provider network, is expected to close this spring, subject to routine regulatory approvals. We think you’ll be as excited about this news as we are because we believe the outcome will be positive for several reasons:
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Great-West Healthcare will become part of one of the largest health care companies in the nation, well positioned to meet the demands of a changing health care marketplace |
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We’ll have the opportunity to provide Great-West Healthcare customers with expanded product and service offerings, a strong national dental network, new life and disability products, and robust international benefits capabilities |
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Our customers will have access to a broader national network |
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Through our combined resources, we’ll deliver enhanced capabilities in operations, customer service, health care cost management and quality improvement |
CIGNA Views Great-West Healthcare as Positive Addition
Additionally, CIGNA has said the following about the acquisition: |
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Great-West Healthcare complements their long-term strategy for profitable growth. Our competitively differentiated offerings appeal to employers of all segments, but are particularly well-received by the small- to midsize employer who seeks the financial flexibility afforded by a variety of funding options. CIGNA plans to build on our leadership position in this area to complement their competitive capabilities and accelerate their strategic growth |
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We offer a well-run organization with a strong team and a reputation for quality service and innovation |
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Our distribution reach and provider networks in key geographic areas, particularly the Western regions of the United States, are attractive to their organization |
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Our implementation of Facets has impressed CIGNA – they view information technology and operational capabilities as critical priorities for 2008 and beyond |
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| At Close, Which is Expected in Spring of 2008, Great-West Healthcare Will Be Acquired By One of the Nation's Largest Health Care Companies. |
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Rick Rivers, executive vice president Great-West Healthcare, introduces (top, l to r) Edward Hanway, chief executive officer CIGNA corporation, and David Cordani, president CIGNA HealthCare, at a post-acquisition meeting that was enthusiastically received by Great-West Healthcare employees. |
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