Ceridian Acquires CIGNA's COBRA Business

April 7, 2004 (PLANSPONSOR.com) - Managed human resource solutions provider Ceridian has acquired CIGNA HealthCare's COBRA and retiree administration business.

Under the terms of the agreement, Ceridian will provide COBRA administration services as well as retiree billing services to current CIGNA customers. Ceridian will take over these functions following an unspecified transition period, according to a news release.

Speaking to the reason for the acquisition in the release, Ceridian Human Resource Solutions President said Robert “Bo” H. Ewald said Ceridian saw this as an opportunity to build the company’s COBRA administration experience.

Terms of the acquisition were not divulged.