Birmingham, AL -- Blue Cross and Blue Shield of Alabama announced today that it has chosen to collaborate with Prime Therapeutics LLC (Prime) to provide pharmacy benefit management (PBM) services to its non-Medicare customers beginning July 1, 2010. As part of the agreement, Blue Cross and Blue Shield of Alabama will assume 17 percent ownership of Prime.
"Partnering with Prime Therapeutics will allow us to enhance and expand our pharmacy services in a highly competitive market," said Jeff Ingrum, Senior Vice President of Health Care Networks at Blue Cross. "Prime shares our commitment to providing access to quality healthcare and has demonstrated its ability to provide excellent pharmacy services to our customers."
Headquartered in St. Paul, Minnesota, Prime is an independent company, owned by 12 Blue Cross and Blue Shield Plans, and has more than two decades of experience providing PBM services. With the addition of Blue Cross and Blue Shield of Alabama customers, Prime will now provide pharmacy services to 17 Blue Plans nationwide.
Kim Mageau, Interim President and Chief Executive Officer of Prime, is excited about the new partnership. "Prime is delighted to welcome Blue Cross and Blue Shield of Alabama into the family of Blues clients we serve. With this addition, Prime will continue to demonstrate the value that an in-house, aligned pharmacy solution brings to our Blues clients and owners."
About Blue Cross and Blue Shield of Alabama
Blue Cross and Blue Shield of Alabama has insured Alabamians for nearly 75 years. Blue Cross offers coverage plans to corporations, individuals and the senior market. For more information about Blue Cross, visit www.bcbsal.com. Blue Cross and Blue Shield of Alabama is an Independent Licensee of the Blue Cross and Blue Shield Association.
About Prime Therapeutics
Prime Therapeutics is a pharmacy benefit management company dedicated to providing innovative, clinically-based, cost-effective pharmacy solutions for clients and members. Providing pharmacy benefit services nationwide and to approximately 14.7 million covered lives, its client base includes Blue Cross and Blue Shield Plans, employer and union groups, and third-party administrators.
Blue Cross and Blue Shield of Alabama
Vice President, Corporate Communications
Director, PR and Marketing Communications
/PRNewswire -- April 5/
SOURCE Blue Cross and Blue Shield of Alabama