Indianapolis-based Elevance plans to acquire Granular Insurance Company. Elevance is not disclosing the terms of the deal, according to the statement.
Granular Insurance Company was launched in 2020 and offers medical stop-loss, reinsurance and fronting products using “innovative, proprietary technology,” according to Elevance Health.
Verily is the healthcare and life sciences arm of Google’s parent company, Alphabet.
Elevance Health completed several other acquisitions in the past year. The company closed the acquisition of Indiana University Health’s health plan in January. Elevance also plans to acquire CareBridge, a home health company.
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