M&A Deal Summary

Elevance Health Acquires Blue Cross and Blue Shield of Louisiana

On January 23, 2023, Elevance Health acquired insurance company Blue Cross and Blue Shield of Louisiana

Acquisition Highlights
  • This is Elevance Health’s 6th transaction in the Insurance sector.
  • This is Elevance Health’s 22nd transaction in the United States.
  • This is Elevance Health’s 1st transaction in Louisiana.

M&A Deal Summary

Date 2023-01-23
Target Blue Cross and Blue Shield of Louisiana
Sector Insurance
Buyer(s) Elevance Health
Deal Type Add-on Acquisition
Advisor(s) Cain Brothers & Co. LLC (Financial)
Morgan Lewis
McGlinchey Stafford (Legal)

Target

Blue Cross and Blue Shield of Louisiana

Baton Rouge, Louisiana, United States
Blue Cross and Blue Shield of Louisiana offer health insurance including medical, dental, Medicare Advantage and prescription drug coverage to individuals, families and employers. Blue Cross and Blue Shield of Louisiana was founded in 1934 and is based in Baton Rouge, Louisiana.

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Buyer(S) 1

Buyer

Elevance Health

Indianapolis, Indiana, United States

Category Company
Founded 2001
Sector Insurance
Employees104,900
Revenue 171.3B USD (2023)
DESCRIPTION
Entrance to Elevance Health's corporate headquarters in Indianapolis, Indiana.
Entrance to Elevance Health's corporate headquarters in Indianapolis, Indiana.

Elevance Health is a health benefits company serving customers throughout the United States. Through its networks nationwide, the company delivers a number of leading health benefit solutions through a broad portfolio of integrated health care plans and related services, along with a wide range of specialty products such as life and disability insurance benefits, dental, vision, behavioral health benefit services, as well as long term care insurance and flexible spending accounts. Elevance Health was established in 2001 and is based in Indianapolis, Indiana.


DEAL STATS #
Overall 24 of 25
Sector (Insurance) 6 of 6
Type (Add-on Acquisition) 19 of 20
State (Louisiana) 1 of 1
Country (United States) 22 of 23
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-09 BioPlus Infusion Pharmacy

Altamonte Springs, Florida, United States

BioPlus Infusion Pharmacy provides a complete range of specialty pharmacy services for patients living with complex and chronic conditions, such as cancer, multiple sclerosis, hepatitis C, autoimmune diseases, and rheumatology. BioPlus Infusion Pharmacy was established in 1989 and is based in Altamonte Springs, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-28 Elevance Health - Life & Disability Business

Indianapolis, Indiana, United States

Elevance Health's Life & Disability Business provides life, disability, and related employee benefits.

Sell -