Capital BlueCross Acquires a Majority Interest in Vibra Health Plan, Expanding Medicare Business and Coverage Area
HARRISBURG, Pa., Jan. 25, 2017 /PRNewswire/ -- Capital BlueCross today announced its agreement to acquire a majority interest in Vibra Health Plan. The transaction expands the Capital BlueCross family of companies and its growing presence in the Medicare program.
Vibra Health Plan, based in Harrisburg, launched its Medicare Advantage product in October of 2016, focusing solely on Medicare-eligible customers. It will retain its name and overall operations in Harrisburg.
"In just a short period of time, Vibra Health Plan has established itself as a strong and innovative company focusing on delivering excellence to Medicare customers," said Gary D. St. Hilaire, President and CEO of Capital BlueCross. "We are thrilled to bring them into the Capital BlueCross family of companies, increasing our offerings to an expanding market and furthering our geographical reach."
While part of a larger set of diversified companies, Vibra Health Plan's customers will continue to experience the same support and coverage as they do today.
"Joining forces with Capital BlueCross is an excellent move for Vibra Health Plan and will be a positive experience for our customers," said Brad Hollinger and Michael Fiaschetti, co-founders of Vibra Health Plan. "Capital BlueCross is an established industry leader, with nearly 80 years of experience as a community-based health plan. We look forward to growing together, increasing the coverage opportunities for our Medicare eligible customers."
Vibra Health Plan currently serves 17 counties in Central Pennsylvania, Lehigh Valley, and the Scranton-Wilkes-Barre region with plans for expansion in the coming years. Capital BlueCross' acquisition of its majority interest is subject to regulatory approval.
About Capital BlueCross
Capital BlueCross, headquartered in Harrisburg, Pa., is the leading health solutions and insurance company in Central Pennsylvania and the Lehigh Valley. A partner in the community's health for nearly 80 years, Capital BlueCross offers health insurance products, services and technology solutions that provide peace of mind to consumers and promote health and wellness for our customers.
More than a health insurer, the company delivers innovative solutions through a family of diversified businesses that is creating a healthier future and lowering health care costs. Among these solutions are patient-focused care models, leading-edge data analytics, and digital health technologies. Additionally, Capital BlueCross is growing a network of Capital Blue stores that provide in-person service and inspiration to help people reach their health goals. Capital BlueCross is an independent licensee of the BlueCross BlueShield Association. For more information, visit capbluecross.com.
About Vibra Health Plan
With a management team that has more than a century of combined experience in the areas of managed care and health insurance, Vibra Health Plan is a health insurance plan focused solely on Medicare eligible beneficiaries through its significant PPO provider network which has been uniquely designed to offer enhanced coordinated services amongst central Pennsylvanians and a Provider Network made up of 8,000+ Physicians and Providers along with 50+ hospitals. For more information, visit vibrahealthplan.com.
SOURCE Capital BlueCross
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