Anthem to buy Cigna for $54B in mega insurance merger

[truebluefan]

The health care insurance industry's consolidation rush is accelerating with insurance giant Anthem's deal to acquire Cigna in a transaction valued at $54.2 billion.

Anthem on Friday confirmed that it has reached a deal to buy Cigna, creating a mammoth for-profit insurer with annual revenues of more than $115 billion and more than 53 million insured patients.

Together, the insurers represent about 17% of the U.S. population.

Their tieup follows weeks of intense negotiations, with Cigna at one point publicly rejecting Anthem's entree.

Read more http://www.usatoday.com/story/money/2015/07/24/anthem-buy-cigna-mega-insurance-merger/30608995/