Elevance closes deal to buy IU Health Plans
IU Health Plans, which will operate as part of Anthem BCBS in Indiana, has Medicare Advantage plans in 36 counties.
Photo: Martin Barraud/Getty Images
Elevance has completed its acquisition of Indiana University Health Plans for an undisclosed amount.
The closing was announced Tuesday by Elevance, the parent company of Anthem Blue Cross and Blue Shield.
IU Health Plans will now operate as part of Anthem Blue Cross and Blue Shield in Indiana.
Elevance announced the acquisition in September, saying the closing was expected to take place by the end of the year.
WHY THIS MATTERS
IU Health Plans is a managed care organization created by Indiana University Health.
It offers Medicare Advantage plans in 36 counties and fully insured commercial plans for employers. IU Health Plans has more than 160 Indiana-based staff.
The acquisition supports Anthem Blue Cross and Blue Shield parent company's whole-health strategy, Elevance said. IU Health Plans is an established managed care plan known for its local brand awareness, community involvement, high-touch customer service and extensive product offerings.
It has continued to earn high Medicare Advantage star ratings in its operating region, Elevance said.
THE LARGER TREND
On Thursday, Seeking Alpha gave Elevance Health a strong buy designation despite a 30% stock decline.
The company has solid fundamentals and market position in the health insurance industry, and it benefits from trends like an aging population and increased life expectancy, Seeking Alpha said. This is driving long-term demand for healthcare services.
Risks include rising healthcare costs.
Email the writer: SMorse@himss.org