Anthem shareholders OK rebrand as Elevance Health

Anthem's shareholders have signed off on the insurer's corporate rebrand as Elevance Health.

With the shareholder approval, Anthem will commemorate the name change on June 28 by ringing the opening bell at the New York Stock Exchange before trading under the new ticker ELV, the company said in an announcement.

“The result of today’s vote reflects the shareholders’ affirmation that our company continues to transform to a lifetime, trusted health partner that offers a range of health-related services, including traditional health benefits," CEO Gail Boudreaux said in a statement. "This change is the next important chapter in our journey, and better reflects our business and the company we are today."

“Fueled by our bold and ambitious purpose to improve the health of humanity, I look forward to creating opportunities to deliver innovative products and services as well as move health forward, in order to better serve the needs of our consumers, care providers, communities, partners, and associates," Boudreaux said.

The name combines the concepts of "elevate" and "advance," Anthem said, to reflect its efforts to grow beyond being a health insurance company. The company has invested significantly in assets outside of its health plan, including digital, pharmacy and healthcare services.

The insurer is also seeking to reflect its potential role as a lifetime partner for its members, as it can provide a continuity of care across multiple types of coverage. For example, someone who is currently enrolled in an Anthem plan through their employer could age into one of its Medicare Advantage plans, maintaining that continuity.

Anthem first unveiled plans to rebrand in March.