ALBUQUERQUE, N.M.--(BUSINESS WIRE)--Health Care Service Corporation (HCSC), through its division, Blue Cross and Blue Shield of New Mexico (BCBSNM), has entered into agreements to acquire Lovelace Health Plan in New Mexico (including its Medicare Advantage and commercial lines of business). This acquisition does not include Lovelace’s hospitals or clinics. The transactions, which are subject to state and federal regulatory approvals and other conditions, are both anticipated to close approximately December 31, 2013.
Lovelace and BCBS have a long history of working together to provide health plan members with highly coordinated, cost-effective, quality care. Lovelace Health System will work closely with BCBS to ensure a smooth transition for plan members once the transaction is finalized.
BCBSNM President, Kurt Shipley, stated he is pleased to have the opportunity to serve the members of Lovelace Health Plan. “We look forward to providing our best in class customer services. This acquisition would further extend BCBSNM’s commitment to deliver products and services that help New Mexicans live healthier, happier lives.”
“After careful consideration, Lovelace Health System made the strategic decision to focus on growing its primary, specialty and acute care services, providing greater access to high-quality and compassionate care throughout the region,” said Ron Stern, Lovelace Health System president and CEO. “Blue Cross and Blue Shield is a proven, trusted and local partner, and we are confident this is the right option for our patients and health plan members.”
Lovelace Health Plan has more than 110,000 members, which includes individual, small and large group, and self-funded employer plans, as well as its Medicare Advantage plans.
“We welcome Lovelace Health Plan members to our network and we look forward to working closely with Lovelace, members, doctors and other health care professionals to address each individual’s evolving health care needs while helping them successfully navigate the evolving health care system,” said Shipley.
When the transactions are final, Lovelace Health Plan members migrating to BCBSNM will once again have access to providers in the ABQ Health Partners medical group.
About Health Care Service Corporation
Health Care Service Corporation is the country's largest customer-owned health insurer and fourth largest health insurer overall, with more than 13 million members in its Blue Cross and Blue Shield plans in Illinois, New Mexico, Montana, Oklahoma and Texas. A Mutual Legal Reserve Company, HCSC is an independent licensee of the Blue Cross and Blue Shield Association. For more information, please visit www.HCSC.com, visit our Facebook page or follow us at www.twitter.com/HCSC.
About Lovelace Health System
Lovelace Health System consists of Lovelace Medical Center, Lovelace Rehabilitation Hospital, Lovelace Women’s Hospital, Lovelace Westside Hospital, Heart Hospital of New Mexico at Lovelace Medical Center, Lovelace Regional Hospital – Roswell, Lovelace Medical Group, Southwest Medical Associates and 11 retail pharmacy locations in Albuquerque, Rio Rancho and Santa Fe.