Harrisburg, Pa.-based Capital BlueCross will acquire a majority interest in Vibra Health Plan in Harrisburg.
Here are four things to know about the agreement.
1. Financial details of the purchase were not disclosed. The transaction, subject to regulatory approval, will expand Capital BlueCross' presence in the Medicare program.
2. Vibra Health Plan will retain its name and overall operations in Harrisburg. It launched its Medicare Advantage product last October solely for Medicare-eligible customers.
3. Vibra Health Plan serves 17 counties in central Pennsylvania, Lehigh Valley and the Scranton-Wilkes-Barre region, with expansion planned in coming years.
4. Gary St. Hilaire, president and CEO of Capital BlueCross, said in a statement, "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. 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."