The health company finalized the move to add the long-term care plan under its umbrella.
Anthem announced the completed acquisition of Integra Managed Care today, with the long-term care plan joining the health company's government business division.
New York-based Integra Managed Care is designed to help adults living with long-term disabilities and needs live independently in their own home. Operating in the five boroughs of New York, Nassau, Suffolk, and Westchester, Integra serves over 40,000 Medicaid members through a care management team that includes a nurse, social worker, and coordinator, according to the announcement.
"We're pleased to complete this acquisition and work alongside our new colleagues as we continue to grow our Medicaid business and enhance the healthcare experience for all of our members," Felicia Norwood, executive vice president of Anthem’s government business division, said in a statement. "Anthem and Integra's shared commitment to deliver high quality, comprehensive whole-healthcare across communities throughout New York ensures that our members will continue to receive the care and support services that they have come to expect."
Anthem's plan to acquire Integra Managed Care was initially announced in November 2021. The financial terms of the completed transaction were not disclosed.
In its first quarter (Q1) 2022 earnings call, Anthem reported organic growth across business lines, including the Medicaid side where its acquisitions of MMM and Paramount Advantage aided increases.
The result was an operating gain in the government business segment of $789 million in Q1, an increase of $311 million from Q1 of 2021.
The addition of Integra Managed Care will further bolster Anthem's Medicaid segment as the company continues to transition from a traditional payer. The rebrand as Elevance Health also reflects Anthem's desire to reposition in the healthcare business.
"Our strong momentum across all our businesses is evidence that our transformation to become a lifetime, trusted health partner continues to drive our growth and accelerate our capabilities focused on whole person health," Anthem president and CEO Gail Boudreaux said in the earnings call press release.
Jay Asser is the CEO editor for HealthLeaders.