Elevance Health, formerly known as Anthem, has signed a deal to acquire Blue Cross and Blue Shield of Louisiana for an undisclosed sum, the health insurer announced.
The deal will add nearly 2 million people to the insurer’s total medical membership of more than 47 million at the third quarter’s end. Elevance will now operate Blue Cross Blue Shield plans in 15 states if the deal closes, Healthcare Dive reports.
BCBS of Louisiana said it needs a partner to deliver innovative products and capabilities.
Elevance will “help us deliver these faster and better than we could alone” Steven Udvarhelyi, CEO of BCBS of Louisiana, said in a joint statement.
The deal is expected to close later this year pending regulatory approvals. Read more.