Aetna Signs Contract With St. Peter’s Health Care Services

ALBANY, N.Y.— Aetna (NYSE: AET) announced today it has reached agreement with St. Peter’s Health Care Services (SPHCS) on a two-year contract renewal that continues and expands the in-network relationship with the Albany, New York, facility.

The new agreement, effective June 1, 2008, extends the positive relationship Aetna and St. Peter’s have enjoyed since 2001. In addition to Aetna’s full line of commercial products, the agreement adds Aetna’s Medicare product line, so Aetna’s Medicare members can now also receive services at St. Peters at the preferred, in-network benefit level.

“Aetna is pleased that St. Peter’s will continue to be an important part of our Albany network,” said Dan Delucia, head of Aetna’s network in upstate New York. “This agreement enables us to continue offering our members access to a broad network of high-quality hospitals and physicians.”

Under the agreement, members of Aetna network-based plans will be able to receive covered in-patient and out-patient services, at in-network rates, from St. Peter’s Health Care Services.

Aetna provides and administers health benefits to more than 140,000 members in Upstate New York and the Capital Region. Those members have access to a contracted network of 57 hospitals, 2605 primary care physicians and 5467 specialists.

James Gavin, Treasurer and Chief Financial Officer, St. Peters Health Care Services, said, “Extending our working relationship with Aetna will help St. Peter’s Health Care Services fulfill its mission to provide quality, compassionate care to the residents of the Capital Region.”

St. Peter’s Health Care Services was established by the Religious Sisters of Mercy in 1985 with components that date back to 1869. Led by St. Peter’s Hospital, a 442-bed acute care facility, the SPHCS system also includes: St. Peter’s Hospital Foundation; St. Peter’s Addiction Recovery Center (SPARC,) a 40-bed addiction services center; Our Lady of Mercy Life Center, a 160-bed residential care facility; St. Peter’s Nursing & Rehabilitation Center, a 160-bed skilled nursing facility; Mercy Cares for Kids, a child day care center; The Community Hospice, serving patients in residential facilities, hospitals and at home in six counties; and St. Peter’s Auxiliary, Inc.

With 4,500 employees throughout the system and a budget of nearly $450 million, St. Peter’s Health Care Services is the region’s fourth-largest employer. In recent years, the St. Peter’s Hospital has earned several top national and state honors for its overall care, cardiovascular care, patient safety and nursing services