Scott-Macon Advises QualCare in its Sale to Cigna
QualCare, one of the leading healthcare and workers’ compensation services companies in New Jersey, has been acquired by Cigna, a national healthcare insurance and services company with revenues of $34 billion. Scott-Macon acted as QualCare’s exclusive financial advisor in this transaction.
QualCare Alliance Networks, Inc. (QANI) was founded by Annette Catino in 1993. QANI serves as the parent organization to the following companies: QualCare, Inc., New Jersey’s largest, provider-sponsored, managed care company; Qual-Lynx, a workers’ compensation managed care provider and multi-state third party administrator for property, casualty and workers’ compensation; Health-Lynx, the region’s backbone for establishing Accountable Care Organizations; QualCare Captive Insurance Company, Inc., the first sponsored cell captive insurance structure approved by the Captive Division in New Jersey; and QualCare Management Resources, Inc., a company which provides insurance management and financial services to regulated insurance programs. Through its leadership team and Board of Directors, QANI oversees management and operations for all five companies.
Cigna Corporation (NYSE: CI) is a global health service company dedicated to helping people improve their health, well-being and sense of security. All products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Connecticut General Life Insurance Company, Cigna Health and Life Insurance Company, Life Insurance Company of North America and Cigna Life Insurance Company of New York. Such products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy, vision, supplemental benefits, and other related products including group life, accident and disability insurance. Cigna maintains sales capability in 30 countries and jurisdictions, and has approximately 85 million customer relationships throughout the world.