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Health insurer Anthem has entered into an agreement to acquire Florida-based private Medicare Advantage organization, America’s 1st Choice.
America’s 1st Choice offers HMO products, including chronic special needs plans (C-SNP) and dual-eligible special needs plans under its Freedom Health and Optimum brands in Florida. It currently serves approximately 130,000 members through its Medicare Advantage plans in 25 Florida and three South Carolina counties.
"Over the last four years, Anthem has made a commitment to improve the performance and quality of our Medicare platform, ensuring we provide greater access to high-quality, affordable health care," said Joseph Swedish, chairman, president and chief executive officer, Anthem.
"As we look ahead, we will continue to maintain a diligent focus on innovating our Medicare Advantage product portfolio. The acquisition of America’s 1st Choice, which has strong technology tools and expertise designing and implementing engagement programs, fits well with our growth objective and will also enhance our ability to deliver a broad variety of cost-effective high quality plans to meet the diverse needs of the Medicare population."
Peter Haytaian, EVP, president, government business division, Anthem, added: "This acquisition further demonstrates our commitment to capitalize on new opportunities in our Government Business Division that help expand our presence and improve our capabilities to help serve the needs of the most vulnerable populations, which includes Medicare, dual eligible as well as those living with chronic conditions."
Financial terms of the transaction were not disclosed. The acquisition is expected to close in the first quarter of 2018, subject to approvals from state and federal regulatory authorities, standard closing conditions and customary approvals required under the Hart-Scott-Rodino Antitrust Improvements Act. The transaction is expected to be slightly accretive to earnings in 2018.
Anthem, America’s 1st Choice, Acquisition, Medicare, Peter Haytaian, Joseph Swedish, US