CareInsite Completes Acquisition of Provider Technology Group, Announces Partnership with Blue Cross Blue Shield of Massachusetts

Strategic Insights -

CareInsite, a subsidiary of Medical Manager Corporation, has completed the acquisition of substantially all of the assets of Provider Technology Group (PTG), the e-commerce network of Blue Cross Blue Shield of Massachusetts (BCBSMA). This acquisition enables CareInsite to leverage PTG's network, linking over 12,000 physicians with BCBSMA and major insurance companies. Simultaneously, CareInsite has partnered with BCBSMA to provide Internet content and connectivity services. This deal is part of a larger agreement between CareInsite and Healtheon/WebMD Corporation, which will acquire CareInsite and its parent company, Medical Manager Corporation.

Key Takeaways:

  • CareInsite has completed the acquisition of Provider Technology Group (PTG), an e-commerce network of Blue Cross Blue Shield of Massachusetts (BCBSMA).
  • PTG's network, which links over 12,000 physicians with BCBSMA and major insurance companies, will be leveraged by CareInsite for healthcare electronic commerce services.
  • CareInsite will become the provider of Internet content and connectivity services for BCBSMA.
  • The acquisition is part of a larger agreement between CareInsite and Healtheon/WebMD Corporation, which will acquire CareInsite and its parent company, Medical Manager Corporation.
  • CareInsite provides innovative healthcare network and e-commerce services that enable the confidential exchange of clinical, administrative, and financial information among physicians, patients, and affiliated health plans, providers, and suppliers.
  • The company's services are designed to improve the quality of patient care and reduce administrative and clinical costs.

Statistics:

  • CareInsite's subsidiary PTG operates a network linking over 12,000 physicians with BCBSMA and major insurance companies.
  • Blue Cross Blue Shield of Massachusetts has over 1.9 million members.
  • BioCross Blue Shield of Massachusetts posted a $61.3 million net gain in its recently announced financial results.

Sources:

  • Business Wire: "CareInsite Completes Acquisition of Provider Technology Group, Announces Partnership with Blue Cross Blue Shield of Massachusetts" (March 27, 2000)
  • CareInsite: "About CareInsite"
  • Blue Cross Blue Shield of Massachusetts: "Company Profile"