Anthem files petition to Supreme Court to review federal decision on failed Cigna merger
Insurance giant is seeking a review of the 2-1 decision from the appeals court blocking its $54 billion merger with Cigna.
Anthem has filed a petition with the Supreme Court asking for a review of the appeals court decision over its failed merger with Cigna.
On Friday, Anthem confirmed it had filed the petition in the U.S. Supreme Court seeking a review of the federal Court of Appeals decision ruling against the proposed $54 billion merger.
The insurer seized on the dissenting opinion by Judge Brett Kavanaugh in the 2-1 ruling. Anthem quoted Kavanaugh who wrote that the record demonstrates the merger would be beneficial to employer-customers who obtain insurance from Anthem and Cigna.
[Also: Withholding specifics, Anthem professes commitment to Cigna merger despite legal roadblock]
The appeals court ruling limits healthcare access for millions of Americans and denies them more than $2 billion in cost savings each year, Anthem said.
"Anthem urges that 1960s-era merger precedents relied upon by the courts below must be updated to reflect the modern understanding of economics and consumer benefit," Anthem said.
Anthem is also seeking to keep Cigna in the deal past the terms of the insurers' 2015 merger contract. Anthem won a temporary order preventing Cigna from opting out. A court hearing on the issue is scheduled for May 9.
[Also: Federal Court rules against Anthem, upholds permanent injunction against Cigna merger]
The Department of Justice brought the injunction against the merger in July 2016 over antitrust and anti-competitive concerns.
Anthem said this year it believed it would be more successful under a new administration.
Twitter: @SusanJMorse
