City officials have announced that Independence Blue Cross will be the sponsor of Philadelphia's bike share system when it opens later this year.
Mayor Michael Nutter said Wednesday that Independence Blue Cross will contribute about $1.7 million each year for the next five years as title sponsor.
The program is being dubbed "Indego."
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The city has invested $3 million for the program and another $4.5 million is coming from state, local and foundation funding.
Officials say the program will include 600 bicycles with a network of more than 60 docking stations around the city.
Bike share users will be able to get a bike at any station and return it to any other station by using a member card or a credit or debit card.