Anthem Details HealthSun Acquisition Plans
INDIANAPOLIS - Indianapolis-based Anthem Inc. (NYSE: ANTM) has announced an agreement to acquire Florida-based HealthSun, a Medicare Advantage health plan provider. The deal is expected to close by the end of the year, and Anthem says it will add approximately 40,000 members, boosting its affiliated Medicare and Medicaid plan membership total to 650,000 Floridians.
During a quarterly conference call with investors in July, Chief Executive Officer Joe Swedish alluded to Anthem's continued pursuit of merger and acquisition activity after a planned $54 billion merger with Cigna Corp. (NYSE: CI) fell through. In a statement following the HealthSun announcement, Swedish said "Anthem is committed to identifying opportunities for growth that will enable us to advance our goal of increasing access to healthcare for all consumers, including those who are most vulnerable. The acquisition of HealthSun, which offers a unique integrated care delivery model serving mainly dual-eligible (Medicare and Medicaid) members, fits well with our plans for continued growth in the Medicare Advantage and dual-eligible populations."
The acquisition is subject to state and federal regulatory approvals.