Advertisement
Dr. Kenneth R. Melani, president and chief executive officer of Highmark,said, "We are pleased that the Justice Department, following an updated andthorough review, has reaffirmed that the consolidation will not adverselyaffect actual or potential competition in Pennsylvania."
Advertisement
"Today's decision is an important federal milestone in the regulatoryreview process," said Joseph A. Frick, IBC's president and chief executiveofficer. "Now we look forward to completing the state regulatory reviewbecause we believe strongly that the consolidation will allow us to have asignificant, tangible and positive impact on access to quality, affordablehealth care in Pennsylvania."
Highmark and IBC are continuing to provide detailed information to thePennsylvania Insurance Department for its careful review of the proposedtransaction, including participating this month in a series of publicinformational hearings held by the Department in Pittsburgh, Harrisburg andPhiladelphia.
The Department of Justice first reviewed and cleared the proposedtransaction in May 2007. Under federal law, a clearance expires after 12months. Hence, the companies resubmitted their request for federal clearancethis spring.
About Highmark Inc.
As one of the leading health insurers in Pennsylvania, Highmark Inc.'smission is to provide access to affordable, quality health care enablingindividuals to live longer, healthier lives. Based in Pittsburgh, Highmarkserves 4.6 million people through the company's health care benefits business.
Highmark Inc. is an independent licensee of the Blue Cross and Blue ShieldAssociation, an association of independent Blue Cross and Blue Shield Plans.For more information, visit www.highmark.com.
About Independence Blue Cross
Independence Blue Cross is a leading health insurer in southeasternPennsylvania. IBC and its affiliates provide coverage to nearly 3.4 millionpeople. For 70 years, Independence Blue Cross has offered high-quality healthcare coverage tailored to meet the changing needs of members, employers, andhealth care professionals. Independence Blue Cross is an independent licenseeof the Blue Cross Blue Shield Association, an association of independent BlueCross and Blue Shield Plans.
SOURCE Highmark and Independence Blue Cross
