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Crain's Chicago Business, July, 1999
THREE SUITORS BID FOR RUSH PRU HMO Rush-Presbyterian-St. Luke's Medical Center is weighing bids from three suitors for its Rush Prudential Health Plan, according to a source close to the discussions. The West Side hospital giant co-owns Chicago's third-largest health maintenance organization with Prudential Insurance Co.
of America. In the wake of Prudential's decision to exit the health insurance business, the hospital has decided to sell the plan rather than buy back Prudential's 50% stake or seek a new joint-venture partner, the source says. Potential buyers include California-based Wellpoint Health Networks, Pennsylvania's Cigna Corp., Connecticut-based Aetna U.S. Health Care and Blue Cross Blue Shield of Illinois. The deal would require a deep-pocketed...
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