Health Plans, Inc. Acquires Employers Health Network
Health Plans, Inc. (HPI) announced on July 11 that it acquired managed care organization Employers Health Network. Financial terms of the deal were not disclosed. HPI is a national third-party administrator that partners with health plan brokers and employers to provide self-funding strategies and customized plans, giving employers greater cost transparency and control. The company is based in Westborough, Massachusetts and was founded in 1981. Employers Health Network (EHN) is an Irving, Texas-based company that provides comprehensive healthcare plans. EHN’s plans connect employees directly with healthcare providers and its transparent pricing allows customers to see,... Read More »
Evolent Health Acquires IPG in $375 Million Sale
Evolent Health, Inc., a managed care company, announced it acquired IPG, a provider of surgical cost management solutions, for $375 million. The seller was TPG Growth. Founded in 2011, Evolent Health is based in Arlington, Virginia, and provides an integrated, value-based care platform to health systems and physician organizations nationwide. IPG works with health plans, providers, surgical facilities, device manufacturers and patients to improve quality and reduce costs for surgical procedures through optimization of care and device selection. It was founded in 2004 and is based in Alpharetta, Georgia. The acquisition of IPG will expand Evolent’s specialty... Read More »
Cigna Completes $5.4 Billion Sale To Chubb
Cigna Corporation kicked off July by announcing the completion of the sale of its life, accident and supplemental benefits businesses in six markets across Asia Pacific to Chubb in a transaction worth approximately $5.4 billion. The businesses in Hong Kong, Indonesia, South Korea, New Zealand, Taiwan and Thailand have moved to Chubb. Cigna and Chubb agreed to exclude Cigna’s interest in a joint venture in Turkey from the transaction. Proceeds from the transaction will be utilized primarily for repurchasing shares, with $3.5 billion used to fund an accelerated share repurchase announced on June 16, 2022. When combined with Cigna’s previously completed share repurchases, the... Read More »
Anthem Announces Acquisition of Integra Managed Care
On November 10, Anthem, Inc. announced that it entered into an agreement to acquire Integra Managed Care, a managed long-term care plan in New York, from a wholly-owned indirect subsidiary of Personal Touch Holding Corporation. Financial terms of the transaction were not disclosed. Founded in 2014, Integra Managed Care is a New York-based managed long-term care plan serving Medicaid beneficiaries in need of long-term supportive services to help adults with long-term care needs and disabilities live safely and independently in their home and community. Integra serves 40,000 Medicaid members across the five boroughs of New York, Nassau, Suffolk and Westchester. Anthem, Inc. is a leading... Read More »