The boards of directors of Highmark Inc. and Independence Blue Cross announced March 28, 2007, that they have approved an agreement to combine the two organizations. The new company, maintaining dual headquarters in Pittsburgh and Philadelphia and operating locations throughout the commonwealth, will generate more than $1 billion in economic benefits to provide access to affordable, high-quality health care for Pennsylvanians.
Pennsylvania Insurance Department (PID) Filings
On April 27, 2007, Independence Blue Cross and Highmark both filed legal documents with the Pennsylvania Department of Insurance indicating their intentions to combine the two companies. Several key components of the filed materials are public documents, and available for reference:
Form A — Summaries of the Businesses of IBC and Highmark
Form A Exhibits:
The Statement Regarding Compliance with the Competitive Standard of 40 P.S. 991.1403(d), outlining that there is no meaningful competition between the companies’ subsidiaries.
Access documents filed by Highmark.
Proposed Combination with Highmark