Elevance Health has entered into a deal to acquire Indiana University Health Plans, the company’s Anthem Blue Cross unit announced this week.
Should the deal close, IU Health Plans will operate as part of Anthem in the Hoosier State, according to the press release. Financial terms of the sale were not disclosed.
IU Health Plans provides Medicare Advantage plans to 19,000 people across 36 counties and has a 4.5 star rating from the Centers for Medicare & Medicaid Services. It also has 12,000 fully insured commercial plan members, according to the release.The plan has 160 team members in Indiana.
“Acquiring IU Health Plans reflects our dedication to elevating quality and expanding our product offerings,” said Dave Mull, Medicare market president of Anthem Blue Cross and Blue Shield in Indiana, in the release. “This strategic step aligns with our health equity goals, providing comprehensive access to high-quality care and timely interventions.”
“Through this purchase, we are strengthening our efforts to cultivate healthier communities and improve health outcomes for those we are privileged to serve,” Mull added. “We look forward to maintaining our relationship with IU Health as an in-network provider of care.” The parties expect the deal to close at the end of 2024.