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HomeNewsBusinessBCBS Louisiana will be acquired by Elevance Health

BCBS Louisiana will be acquired by Elevance Health

A definitive agreement was reached this week for Elevance Health, previously Anthem, to purchase Blue Cross Blue Shield of Louisiana. BCBSLA will join Elevance Health’s associated Anthem Blue Cross Blue Shield family of brands after the transaction closes.

The two organisations declared that they are “united in a mission” to increase Louisianans’ access, quality, and affordability.

By jointly owning Healthy Blue, which provides services to Medicaid and Medicare Dual Eligible individuals, the partnership expands on the already successful cooperation in Louisiana.

Elevance Health and its healthcare services company, Carelon, created capabilities that will enable BCBSLA to provide services to more than 1.9 million members. Carelon provides mental health, complicated and chronic care programmes, as well as digital models, the firms claimed, with more than $4 billion invested over the past few years.

With a staff of around 3,000 people, the Louisiana Plan’s Baton Rouge offices will continue to provide local customer service.

The corporations said that the purchase will also result in the establishment of the Accelerate Louisiana Initiative, a multibillion-dollar foundation. Elevance stated that the foundation is being established to “meet the specific and complex needs” of Louisianans by dealing with health disparities and fostering local communities.

The transaction is anticipated to close later this year, subject to the fulfilment of all approvals and usual closing conditions.

After the merger, Anthem Blue Cross Blue Shield plans linked with Elevance Health will now be available in 15 states throughout the US.

Elevance Health President and CEO Gail Boudreaux remarked, “Elevance Health and Blue Cross and Blue Shield of Louisiana will combine strengths to provide services specific to Louisiana’s requirements to better serve members through a whole health tailored approach.”

In June 2022, Elevance Health announced the launch of the Carelon brand for healthcare services. Over the following two years, Elevance Health would integrate its vast array of capabilities and services businesses. Carelon offers a wide range of services, including research, pharmacy, and behavioural health.

The previous acquisition that Elevance had announced was the November purchase of BioPlus, a full-service specialty pharmacy. For patients with complex and ongoing illnesses like cancer, multiple sclerosis, hepatitis C, autoimmune diseases, and rheumatology, BioPlus offers a variety of specialist pharmacy services.

In the third quarter of this year, Elevance earned $1.6 billion in earnings, a 7.2% increase over the corresponding time in 2021. Revenues increased by 11.5% to $39.9 billion from $35.8 billion in the prior year.

I. Steven Udvarhelyi, president and CEO of Blue Cross and Blue Shield of Louisiana, stated that the organisation is “a healthy and dynamic enterprise with a legacy of serving Louisianians for almost 90 years.” “However, we came to the conclusion that we required a partner that could assist us in delivering these faster and better than we could alone if we were to continue to be successful in today’s climate and be able to offer cutting-edge innovations, goods, and skills. Our partnership with Elevance Health, a national healthcare organisation that has been a dependable partner since 2017, will enable us to move more quickly toward our goal of enhancing the lives and health of Louisianians.”

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