ANTM - Anthem to acquire Puerto Rico-based subsidiaries of InnovaCare Health

Anthem (ANTM) has agreed to acquire the Puerto Rico-based subsidiaries of InnovaCare Health, L.P.Subject to regulatory clearances, the transaction is expected to complete by Q2 2021.The deal includes MMM Holdings, LLC (“MMM”) and its Medicare Advantage ("MA") plan MMM Healthcare, LLC as well as affiliated companies and Medicaid plan.With more than 267K MA members and over 305K Medicaid members, MMM is the ninth-largest MA plan in the country and the second-largest Medicaid plan in Puerto Rico, a statement from the company said.The financial terms of the transaction were not disclosed, and Anthem’s 2021 EPS guidance remains unchanged post-acquisition.In Q4 2020, the top-line of Anthem rose ~16% YoY despite a decline of ~41% YoY in the net income.

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Anthem to acquire Puerto Rico-based subsidiaries of InnovaCare Health