BREAKING: Cigna buys Sagamore Health Network

August 1, 2007
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.

igna 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.
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