Blue Cross sells subsidiaryBlue Cross and Blue Shield of...

BUSINESS DIGEST

December 10, 1993

Blue Cross sells subsidiary

Blue Cross and Blue Shield of Maryland has sold its pharmacy management subsidiary, ParadigM Pharmacy Management Inc., to Advance Pharmacy Services Inc. of Dallas. The price was not disclosed, but the insurer said it would add $10 million to reserves.

Timomium-based ParadigM reported $2.3 million in revenues last year. Blue Cross said the sale was part of its effort to focus on its core health insurance business. Timonium-based ParadigM employs 26 people, mostly pharmacists who started the firm in 1990.

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