Anthem will acquire Integra Managed Care, a long-term plan based in New York, the insurer announced Wednesday.
Integra currently serves 40,000 Medicaid members, according to the announcement, and provides a dedicated care management team made up of a registered nurse, a social worker and a care coordinator. This team works with members, their families and their providers to manage their long-term care needs.
Anthem will purchase Integra from a wholly owned, indirect subsidiary of Personal Touch Holding Corporation.
“This acquisition aligns with our goal of growing Anthem’s Medicaid business, while serving our members with a comprehensive and coordinated approach to care,” said Felicia Norwood, executive vice president and president of Anthem’s government business division, in a statement.
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“Like Anthem, Integra has established connections with community groups to gain a deeper understanding of how to best support the whole-health needs of the people we are privileged to serve," Norwood said.
Anthem expects the deal to close by the end of 2022's second quarter, pending customary closing conditions. Once the acquisition is finalized, Integra will join the insurer's government business division, according to the announcement.
Financial terms of the deal were not disclosed.
White & Case, Hinman Straub and Lewis Rice are legal advisers to Anthem, and Ruskin Moscou Faltischek, Greenberg Traurig and ESOP Law Group are serving as legal advisers to Integra. Stifel acted as the exclusive financial adviser to Integra.