From Centene completing the sale of another subsidiary, to IU Health announcing plans to sell its health plan to Elevance Health's Anthem Blue Cross and Blue Shield, here are five payer M&A updates Becker's has reported since Sept. 6.
1. Kroger Co. finalized the sale of its speciality pharmacy business to Elevance Health on Oct. 7. The specialty pharmacy focuses on supporting patients with chronic illness that require complex care.
2. Centene completed the sale of Collaborative Health Systems to Astrana Health on Oct. 7. Collaborative Health Systems is a management services subsidiary that partners with independent primary care physicians around value-based care models.
3. Florida's insurance commissioner on Sept. 11 gave the green light for Health Care Service Corp. to purchase Cigna's Medicare business in the state. The Cigna Group reached a deal in January to sell its Medicare business to HCSC for $3.3 billion. The pending sale includes Cigna's Medicare Advantage, supplemental benefits, Medicare Part D offerings, and CareAllies, a value-based care management subsidiary.
4. Indianapolis-based Indiana University Health on Sept. 10 announced it is selling its health plan to Elevance Health's Anthem Blue Cross and Blue Shield for an undisclosed amount. The deal is expected to close by the end of 2024. IU Health Plans serves 19,000 Medicare Advantage members across 36 counties and 12,000 fully insured commercial members through employers.
5. Selling Blue Cross Blue Shield of Louisiana is "completely off the table" for new CEO Bryan Camerlinck. In February, BCBS Louisiana tabled plans to be acquired by Elevance Health. The sale faced scrutiny from physicians and state officials.