Elevance Health expects to add 1.6 million members and $4.5 billion in revenue from its acquisition of Blue Cross and Blue Shield of Louisiana, according to a Jan. 25 earnings call with investors.
The deal is expected to close by the end of the year, CFO John Gallina said, so these figures are not included in the company's expected earnings.
Elevance said Jan. 23 it plans to acquire BCBS Louisiana for an undisclosed amount. The company currently co-owns BCBS Louisana's Medicaid plan, Healthy Blue.
CEO Gail Boudreaux called the deal a "strategic acquisition," noting BCBS Louisiana's "solidly run," 4.5 star Medicare Advantage plan.
BCBS Louisiana would be the 15th state BCBS plan Elevance owns, and its first BCBS acquisition since 2004.
"We're excited, because this brings the 15th Blue state," Ms. Boudreaux said. "Just as we have in our other 14, we've kept our deep local roots in a new market, but we also can bring out national scale and access to our portfolio of innovative solutions and capabilities."