Caremark, the Newport Beach-based health care provider, has signed a partnership agreement with Blue Cross/Blue Shield of Indiana. Gordon Clemons, Caremark's president, said the pact is "one of the two or three" largest partnerships Caremark has entered into in the last three years.
The partnership calls for Caremark's three subsidiaries--Health Data Institute, Caremark/Home Health Care and America's Pharmacy--to offer cost containment services and quality assurance programs and to fill the long-term prescription needs of patients working for companies who sign with Blue Cross/Blue Shield. This is the 14th such partnership Caremark has entered into with physicians, hospitals or other health insurers in the past three years. Blue Shield and Caremark will share in the profits of the partnership at a "close to" 50-50 split, Clemons said.