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PacificSource Health Plans Announces Acquisition of Advantage Dental Plan’s Commercial Membership
Eugene, Ore. – PacificSource Health Plans announced today that it has completed the acquisition of Advantage Dental Plan’s commercial business. Through this transaction, PacificSource Health Plans acquires Advantage Dental’s 35,000 commercial plan members and will provide PacificSource dental members with access to Advantage Dental’s provider network. Advantage Dental will retain and continue to manage its other lines of business, including its Medicaid membership and its dental network.
In the short term, benefits for Advantage Dental’s commercial plan members will continue to be administered by Advantage Dental Plan through an administrative services agreement. PacificSource has contracted with Advantage to provide administrative services to those members until their policy’s next annual renewal date on or after October 1, 2009, at which time they will transition fully to PacificSource.
Advantage Dental Plan, Inc. is a community-based, dentist-owned independent dental insurance plan. Based in Redmond, Oregon, Advantage Dental Plan offers group and individual dental insurance plans sold through local agents and the Internet. The Advantage Dental network includes more than 650 dentists in Oregon, Idaho, and Washington
PacificSource Health Plans is based in Eugene, Oregon, with regional offices in Portland, Bend, Medford, and Boise, Idaho. An independent, not-for-profit company, PacificSource maintains licensure as a health care service contractor in Oregon, Idaho, and Washington. The acquisition gives PacificSource Health Plans a total dental membership of approximately 67,000 lives, combined medical and dental membership of 166,000 lives, and approximately 5,000 employer clients. Beginning on October 1, 2009, PacificSource’s 32,000 existing dental members will be able to access Advantage participating dentists to enjoy cost savings through the arrangement.
“This arrangement will make PacificSource more competitive and help us grow our dental business in all markets,” said Ken Provencher, president and CEO of PacificSource Health Plans. “Through this partnership, our dental members will be able to experience cost savings through Advantage Dental’s extensive provider network. We think Advantage’s commercial members will appreciate our personal approach to service and our administrative efficiencies, and we look forward to welcoming them to the PacificSource family.”
“We see this as a win-win and believe all our customers will be well served by this partnership with PacificSource,” said R. Mike Shirtcliff, DMD, president and CEO of Advantage Dental. “Our members and dentists will appreciate the depth of administrative expertise that PacificSource has. This is an opportunity for Advantage Dental to be better able to compete in the new emerging healthcare marketplace. We will now be able to focus on expanding the Advantage Dental network in additional Northwest markets to the benefit of all our customers.”
About PacificSource Health Plans
Founded in 1933, PacificSource is based in Eugene, Oregon, with local offices
in Portland, Bend, Medford, and Boise, Idaho. The independent, not-for-profit
company provides medical and dental benefits to more than 4,000 employers and
covers more than 137,000 people with its group and individual health insurance
plans. It also provides self-funded employee benefit plans, flexible spending
accounts, HRAs, and COBRA administration services through its subsidiaries, Manley Services and Select Benefit
Administrators. Together, PacificSource and its subsidiaries employ
approximately 400 people. For more information, visit www.pacificsource.com or call (800) 624-6052.
About Advantage Dental
Founded in 1994, Advantage is a dentist-owned company based in Redmond, Oregon. It provides commercial dental insurance to approximately 35,000 group and individual members through the Advantage Dental Plan, Inc. Its Advantage Dental Services, Inc. subsidiary administers Oregon Health Plan benefits for approximately 54,000 Medicaid recipients in Oregon. The Advantage Dental network includes more than 650 dentists in Oregon, Idaho, and Washington. For more information please e-mail email@example.com.