BREAKING: Cigna buys Sagamore Health Network

Cigna Corp. has bought Sagamore Health Network Inc, the CEO of the Philadelphia managed-care giant said this morning during a conference call with analysts.

Carmel-based Sagamore is the second-largest managed care organization in the state, with 725,000 members enrolled as of January 2006, according to IBJ‘s Book of Lists. It was mostly owned by affiliates of St. Vincent, St. Francis and South Bend’s St. Joseph hospitals.

Cigna CEO Edward Hanway said Sagamore has 9,400 primary care physicians, 27,000 specialists, 1,100 ancillary providers and 200 hospitals.

This story will be updated.

Please enable JavaScript to view this content.

Story Continues Below

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our updated comment policy that will govern how comments are moderated.

{{ articles_remaining }}
Free {{ article_text }} Remaining
{{ articles_remaining }}
Free {{ article_text }} Remaining Article limit resets on
{{ count_down }}