Anthem, Cigna announce merger agreement

Anthem Inc. plans to acquire Cigna Corp. for $54.2 billion in cash and stock, the health insurers announced today. The combined company would have about 53 million medical members, merging Anthem’s Blue Cross and Blue Shield presence in 14 states and Medicaid Amerigroup brand in 19 states with Cigna’s U.S. and global services, the organizations said. They expect the transaction to close in the second half of 2016, pending regulatory and shareholder approvals. Anthem President and CEO Joseph Swedish would serve as chairman and CEO of the combined company. For AHA’s take on the proposed merger, see today’s “Vantage Point.”