Anthem seeks Supreme Court review of Cigna merger ruling

Supreme Court
Anthem will seek a Supreme Court review of the ruling against its merger deal with Cigna.

Anthem confirmed that it will seek a U.S. Supreme Court review of an appellate court ruling against its acquisition of Cigna.

Anthem will file a writ of certiorari with the Supreme Court, it announced Friday, asking it to take a look at the 2-1 ruling. Anthem lost its appeal last week, and in its ruling the court argued that the insurer had failed to demonstrate the “extraordinary efficiencies” needed to offset the loss of Cigna as a competitor.

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Anthem cited the court’s minority opinion in its announcement, which argued that evidence “decisively demonstrates” the merger would benefit customers and employers.

“Anthem urges that 1960s-era merger precedents relied upon by the courts below must be updated to reflect the modern understanding of economics and consumer benefit,” Anthem said in the announcement.

RELATED: Cigna ends merger with Anthem, sues for more than $14B

Anthem’s push for a Supreme Court review comes amid a battle with Cigna to end the merger deal. Cigna moved to terminate the agreement in February, following a federal court’s ruling against the merger, and has sued Anthem for more than $14 billion in damages.

In its first-quarter earnings call Friday morning, Cigna CEO David Cordani said the case has a hearing on May 8 in a Delaware court.

“We will update you when there is additional news to share,” he added.

The federal government sued to block both Anthem’s merger with Cigna and the proposed merger between Aetna and Humana on antitrust grounds. U.S. District Judge Amy Berman Jackson ruled that the merger would significantly hamper competition in an already consolidated market. Aetna and Humana have ended their merger plans, rather than appeal, after their deal was blocked in a similar ruling.

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