Blue Cross Blue Shield Wisconsin to Acquire Atrium Health Plans (5/31/2005)

CompcareBlue, the HMO subsidiary of Blue Cross Blue Shield of Wisconsin (BCBSWi), announced today that it has entered into an agreement to purchase Atrium Health Plan, Inc., a Hudson, Wis., based health plan serving 28 counties in northern and western Wisconsin. Atrium Health Plan is a non-Blue Cross Blue Shield branded subsidiary of Blue Cross and Blue Shield of Minnesota.

Atrium Health Plan provides health coverage to more than 52,000 people including group coverage and individual health coverage in its PPO and HMO plans, seniors who subscribe to Medicare select plans, and those in Medicaid programs. CompcareBlue will purchase the assets of Atrium, which includes all of its commercial and Medicaid business.

"This acquisition will allow Atrium members to take advantage of the strength that the Blue Brand offers," said Stuart K. Campbell, BCBSWi president. "We look forward to enhancing our presence and providing superior service and value to Atrium's members in northwest Wisconsin. As part of CompcareBlue, Atrium members will now enjoy access to a broad statewide provider network and our portfolio of products that include our nationwide provider network."

"Atrium is proud to have served the northwestern Wisconsin community for more than 20 years by providing a full spectrum of affordable healthcare coverage," said Mary Haffenbredl, president of Atrium. "This transaction will allow us to keep our commitment to quality healthcare and service in this region while benefiting our members through the long-term stability provided by the larger Wisconsin Blues organization."

The agreement is slated to close sometime this summer pending approval from the Office of the Commissioner of Insurance.