No change seen in Maine as Anthem-Cigna deal advances

A spokesman for Anthem Blue Cross and Blue Shield in Maine says the parent company’s proposed acquisition of Cigna Corp., announced on Friday, won’t impact customers in Maine as the deal moves forward in a regulatory process that isn’t expected to be completed until the second half of 2016.

“This does not alter our day-to-day operations or our relationship with members in any way. We will continue operating our business as usual, delivering quality services to give our members access to the care they need,” Rory Sheehan told Mainebiz in an email sent Friday afternoon.

In a joint announcement, Anthem Inc. (NYSE: ANTM) and Cigna Corp. (NYSE: CI) revealed on Friday that they have entered into a definitive agreement whereby Anthem will acquire all outstanding shares of Cigna in a cash and stock transaction worth $54.8 billion.

“By combining Anthem’s Blue Cross and Blue Shield footprint in 14 states and Medicaid footprint via its Amerigroup brand in 19 states with Cigna’s broad portfolio of health and protection services in the U.S. and globally, the combined company will offer a comprehensive range of high quality, high value products and services to the full spectrum of customers – individuals, employers and State and Federal governments,” the two companies stated in their announcement. Anthem has received committed financing from Bank of America, Credit Suisse and UBS Investment Bank in connection with the transaction, according to the announcement..

Sheehan said the acquisition will help Anthem Blue Cross and Blue Shield in Maine “keep health care coverage as affordable as possible and ensure our members have access to the highest quality, most effective care available.”

Anthem’s stock was trading at $151.58 per share at 11:30 a.m. Monday, up 0.55% from its opening. Cigna’s stock was trading at $146.44 per share, up 0.53% from its opening.