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Genesis and NeighborCare Sign Multi-Year Pact with CareFirst: Includes CapitalCare and BCBS of Delaware.

Business Editors/Health & Medical Writers

KENNETT SQUARE, Pa.--(BUSINESS WIRE)--March 6, 2001

Genesis Health Ventures, Inc. today announced that it has signed a multi-year contract with CareFirst BlueCross BlueShield that extends its existing preferred provider agreement until 2005.

The new agreement covers members of CareFirst's affiliates serving Maryland and the National Capital Area, the company's CapitalCare HMO in the Washington, DC area as well as its Delaware affiliate, Blue Cross Blue Shield of Delaware.

The skilled nursing agreement expands the preferred provider agreement to all CareFirst products and positions Genesis ElderCare as the skilled nursing network of choice for CareFirst members. Additionally, NeighborCare has extended its exclusive capitated homecare agreement for CareFirst FreeState HMO members through 2005.

NeighborCare currently manages homecare services for FreeState, including home health nursing, infusion therapy, home medical equipment and respiratory services. The new agreement adds NeighborCare as the preferred provider of home medical equipment, respiratory and infusion therapy services for CapitalCare.

"Genesis' and NeighborCare's extensive network offers payer's like CareFirst a `post acute solution' which enables ease of access for their members who require post hospital services," said Art Wieland, Genesis' senior vice president, network development. "The extension of these agreements demonstrate CareFirst's commitment to Genesis and its view of Genesis as the post acute provider of choice in the Mid-Atlantic region"

Genesis Health Ventures (OTCBB:ghvie.ob) provides eldercare in the Eastern US through a network of Genesis ElderCare skilled nursing and assisted living centers, plus long-term care support services nationwide, including pharmacy, medical equipment and supplies, rehabilitation, group purchasing, consulting and facility management.

CareFirst BlueCross BlueShield is a not-for-profit health care company which, along with its affiliates and subsidiaries, offers a comprehensive portfolio of health insurance products, direct health care and administrative service to nearly 3 million individuals and groups in Northern Virginia, the District of Columbia, Maryland and Delaware.
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Publication:Business Wire
Date:Mar 6, 2001
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