Anthem Acquires Puerto Rico’s largest Medicare Advantage Plan

INDIANAPOLIS – Anthem, the largest for-profit managed health care company in the Blue Cross Blue Shield Association, finalized their agreement with InnovaCare Health for the acquisition of InnovaCare’s Puerto Rico subsidiaries, including MMM Holdings and its Medicare Advantage plan, Medicaid plan, MMM Healthcare and affiliated companies. MMM Holdings is the largest Medicare Advantage health coverage provider and second-largest Medicaid health coverage provider in Puerto Rico, and the ninth-largest Medicare Advantage health insurance provider in the United States.

Anthem has acquired more than twenty companies within the healthcare industry thus far and is an independent-licensee in the Blue Cross Blue Shield Association, operating Blue Cross Blue Shield insurance plans in 14 states, with 1 in 8 Americans receiving health insurance from Anthem affiliates. Anthem’s new acquisition of InnovaCare’s MMM Holdings will only increase their range of coverage, bringing the company more than 550,000 new members and enrollees for Medicare Advantage and Medicaid health care plans, along with more than 10,00 providers across Puerto Rico.

Currently, Blue-Cross Blue-Shield is facing the largest antitrust lawsuit in American legal history for its monopolistic behaviors within the healthcare market in the United States. Shelby Roden, LLC serves on the litigation committee for provider plaintiffs in this antitrust suit against Blue-Cross Blue Shield in MDL 2406 in the Northern District of Alabama.

SOURCES:

Anthem’s Announcement: https://ir.antheminc.com/news-releases/news-release-details/anthem-inc-acquire-mmm-holdings-llc-and-affiliates-innovacare?field_nir_news_date_value[min]=

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