Anthem Reports a Dip in Profits
Indianapolis-based Anthem Inc. (NYSE: ANTM) is reporting second quarter net income of $1.8 billion, down from $2.2 billion during the same period a year ago. The health insurer says it closed two acquisitions during Q2, including the purchase of myNEXUS Inc., a home care nursing management company and Puerto Rico-based MMM Holdings, which offers Medicaid and Medicare Advantage plans.
Anthem says the MMM acquisition accounts for over 314,000 Medicaid members and 275,000 MA members.
“We continued to deliver on our commitments to our stakeholders while making considerable progress against our long-term strategy during the second quarter, all while navigating an uncertain environment due to the pandemic,” said Gail Boudreaux, president and chief executive officer. “Our continued success is a function of our relentless focus on the needs of our clients and customers and an unwavering commitment to improve the health of humanity, starting with our members, their communities and our own associates.”
The company also says it is raising its full year adjusted net income outlook from $25.10 per share to $25.50 per share. Click here to view the full report.