In an Oct. 17 call with investors, Elevance’s President and CEO, Gail Boudreaux, said the acquisition will serve as the foundation for Carelon’s home health business.
“Carelon is expanding its capabilities to manage a growing proportion of healthcare spending, supporting the long-term growth of the business and by extension, the value it creates for health plan customers,” she said.
CareBridge operates in 17 states and Washington, D.C., according to its website. In 2023, the company said it served over 115,000 patients and had more than 500 employees.
Elevance Health posted $1 billion in net income during the third quarter. Carelon reported a total operating revenue of $13.8 billion in the third quarter, up 15% year over year. The segment’s operating margin was 5.8%.
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