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Cigna Corporation secures deal with nib Group
Allens advised Cigna Corporation on a joint venture with nib Group to create a specialist healthcare company.
Naomi Neilson
Image: allens.com.au
Firm: Allens (Cigna Corporation)
Value: Each company will contribute $10 million in start-up funding to develop and deliver healthcare programs relevant to different disease risk profiles.
Area: Joint venture, health.
Key players: The team was led by technology, media and telecommunications partner Valeska Bloch, with assistance from managing associate Phil O’Sullivan, associate Fletcher Stewart, lawyer Katherine Tsatsaklas and senior overseas practitioner Mareli Vermeulen. The team also had assistance from intellectual property & PTA special counsel Ric Morgan.
Deal significance: The joint venture will aim to offer a range of services for the benefit of health fund members in Australia, to deliver better health outcomes and risk management.
Commenting on the deal, Ms Bloch said: “The deal is unique because it is an example of an Australian health insurer working with a global health services company to innovate, utilise data and improve health outcomes.”
Initially the joint venture will focus on programs for the benefit of the nib Group but it is envisaged the joint venture may offer services to other healthcare insurers and providers of healthcare in Australia and New Zealand.
Naomi Neilson
Naomi Neilson is a senior journalist with a focus on court reporting for Lawyers Weekly.
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