PITTSBURGH and PHILADELPHIA, July 17 PA-Highmark-BlueCross
PITTSBURGH and PHILADELPHIA, July 17 /PRNewswire-USNewswire/ -- Highmark
Inc. and Independence Blue Cross (IBC) announced today that for the second
time the U.S. Department of Justice has cleared the proposed combination of
the two companies under federal antitrust law.
Dr. Kenneth R. Melani, president and chief executive officer of Highmark,
said, "We are pleased that the Justice Department, following an updated and
thorough review, has reaffirmed that the consolidation will not adversely
affect actual or potential competition in Pennsylvania."
"Today's decision is an important federal milestone in the regulatory
review process," said Joseph A. Frick, IBC's president and chief executive
officer. "Now we look forward to completing the state regulatory review
because we believe strongly that the consolidation will allow us to have a
significant, tangible and positive impact on access to quality, affordable
health care in Pennsylvania."
Highmark and IBC are continuing to provide detailed information to the
Pennsylvania Insurance Department for its careful review of the proposed
transaction, including participating this month in a series of public
informational hearings held by the Department in Pittsburgh, Harrisburg and
Philadelphia.
The Department of Justice first reviewed and cleared the proposed
transaction in May 2007. Under federal law, a clearance expires after 12
months. Hence, the companies resubmitted their request for federal clearance
this spring.
About Highmark Inc.
As one of the leading health insurers in Pennsylvania, Highmark Inc.'s
mission is to provide access to affordable, quality health care enabling
individuals to live longer, healthier lives. Based in Pittsburgh, Highmark
serves 4.6 million people through the company's health care benefits business.
Highmark Inc. is an independent licensee of the Blue Cross and Blue Shield
Association, 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 southeastern
Pennsylvania. IBC and its affiliates provide coverage to nearly 3.4 million
people. For 70 years, Independence Blue Cross has offered high-quality health
care coverage tailored to meet the changing needs of members, employers, and
health care professionals. Independence Blue Cross is an independent licensee
of the Blue Cross Blue Shield Association, an association of independent Blue
Cross and Blue Shield Plans.
SOURCE Highmark and Independence Blue Cross
