Anthem Completes Aspire Acquisition Early

The insurer aims to serve more patients outside the hospital setting.

Indianapolis-based insurer Anthem Inc. announced Monday that it has completed its acquisition of community-based palliative care provider Aspire Health.

The deal, which was announced less than a month ago, had been expected to close by the end of the third quarter. But the Federal Trade Commission closed its case early, announcing this month that it would not challenge the proposal.

"With the addition of Aspire, we are able to expand our capabilities and serve a broader set of consumers in the home and other settings outside of the hospital, while further deepening our relationships within the healthcare community," Anthem President and CEO Gail K. Boudreaux said in a statement.

"The addition of Aspire to Anthem’s other clinical care services, such as CareMore and AIM, will provide tremendous benefit to our consumers, customers, health plan and provider partners as well as future growth opportunities for our company," Boudreaux added.

• Financial terms not disclosed: Anthem didn't say what it paid for Aspire, but it did say the transaction is expected to be earnings-neutral this year and add to earnings in 2019.
   
• Organizational structure: Aspire will operate as a wholly owned Anthem subsidiary, with its associates joining Anthem's Diversified Business Group, the insurer said.
   
• Part of a trend: In striking this deal, Anthem is following some of its competitors. Humana, for instance, has joined with other investors to buy Kindred Healthcare and private hospice operator Curo Health Services, as the Louisville Courier-Journal reported in April.

The deal comes as Anthem invests $20 million into its new Indianapolis headquarters, as Inside Indiana Business reported.