August 13, 1999 |
WellPoint Health Networks Inc., one of California's biggest health insurers, ended its quest to outbid competitor Anthem Inc. for Colorado's biggest insurer. WellPoint last month bid $266 million for Rocky Mountain Hospital & Medical Service Inc., the parent of Blue Cross Blue Shield of Colorado and Nevada, hoping to expand beyond its home state.
December 1, 2004 |
After several false starts and months of controversy, Anthem Inc. completed its acquisition of WellPoint Health Networks Inc. on Tuesday, creating the largest health insurer in the nation with more than 28 million members. The company will operate out of Anthem's Indianapolis headquarters but will adopt a streamlined version of its Thousand Oaks-based target's name: WellPoint Inc. The conclusion of the cash and stock deal, valued at about $21 billion, was announced after the market closed.
August 1, 1995
WellPoint Health Networks Inc., a Woodland Hills-based managed health care company, reported 11% increases in profit and membership for the second quarter that ended June 30. The company posted earnings of $55.4 million for the second quarter, compared to $49.7 million in the same three-month period a year earlier. Revenues rose to $788 million, up 13% from $695 million in the second quarter of 1994. Membership in the company's health maintenance organization and other health plans totaled 2.
June 15, 2004 |
The California Public Employees' Retirement System, the biggest U.S. pension fund, on Monday objected to Anthem Inc.'s proposed acquisition of WellPoint Health Networks Inc. because it includes "excessive pay packages" for WellPoint executives.
November 13, 2004 |
Georgia's insurance commissioner has rebuffed Anthem Inc.'s proposed $18.4-billion acquisition of Thousand Oaks-based WellPoint Health Networks Inc., but the regulator is still talking to Anthem about what it would take to win his approval. The deal would create the nation's largest health insurance company.
July 26, 2001 |
Managed-care company WellPoint Health Networks Inc. said Wednesday that second-quarter profit rose 19% as it added customers and raised premiums to stay ahead of increasing medical costs. Net income rose to $99.9 million, or $1.53 a share, from $83.7 million, or $1.30, a year earlier, beating estimates, the company announced after U.S. markets closed. Revenue rose 37% to $3.15 billion.
February 28, 2004 |
Anthem Inc. on Friday won government antitrust approval to buy Thousand Oaks-based WellPoint Health Networks Inc. for $16.4 billion and become the largest U.S. health insurer. The Federal Trade Commission closed its antitrust investigation of the combination. The companies have not scheduled shareholder votes to approve the transaction. The takeover will give Anthem almost 1 in 3 members of Blue Cross plans, which cover about one-third of all Americans.
July 10, 1998 |
WellPoint Health Networks Inc. said Thursday that it will buy Cerulean Cos., Georgia's largest health insurer, for about $500 million in stock and cash. Cerulean, which is converting from a nonprofit, private organization to a for-profit company, is the parent of Blue Cross & Blue Shield of Georgia and has about 1.7 million members. WellPoint, one of the largest managed-care companies in California, is the parent of Blue Cross of California.
October 3, 2003 |
WellPoint Health Networks Inc., the nation's second-largest private health insurer, said Thursday that it would not reimburse people who use AstraZeneca's new cholesterol drug, Crestor, because of concerns over its safety. The Food and Drug Administration approved Crestor in August after a long debate about the risk of side effects. The approval came with warnings about rare cases of a potentially fatal muscle-destroying condition that affects the kidneys called rhabdomyolysis.
August 26, 2004 |
California's insurance commissioner filed a motion Wednesday to dismiss an Anthem Inc. lawsuit that challenges his authority to block the company's $16.5-billion acquisition of WellPoint Health Networks Inc. Anthem sued Commissioner John Garamendi this month to overturn his finding that the WellPoint purchase would increase state healthcare costs. Garamendi says in a court filing in Los Angeles that he has the authority to block the merger. The acquisition would create the biggest U.S.