Allens has advised global health services company, Cigna Corporation (Cigna), on a joint venture with nib Group to create a specialist healthcare, data and related services company.
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.
Each company will contribute $10 million in start-up funding to develop and deliver healthcare programs relevant to different disease risk profiles.
Commenting on the deal, lead Partner Valeska 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.’
Managing Associate Phil O’Sullivan said, ‘We’re excited to be part of a project where data will underpin personalised health risk management, which is indicative of an emerging trend towards personalised, patient-centric healthcare.’
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.