Anthem plans to buy Boston-based Beacon Health Options, which is the country’s largest independently held behavioral health provider.
According to Anthem, Beacon cares for 36 million people across all 50 states with 3 million enrolled in a comprehensive, risk-based model. Anthem’s broader strategic goal is to expand further into the provider space and integrate services more fully. Anthem will align itself to this broader strategic goal by acquiring Beacon.
This acquisition will allow Anthem to offer integrated behavioral and physical health care services to customers nationwide. Beacon will be combined with Anthem’s existing behavioral health business.
Anthem CEO Gail Boudreaux mentioned in his statement that as Anthem strives to improve lives, simplify healthcare and serve as an innovative and valuable partner, it will focus on providing solutions that address the needs of the whole person.
Beacon’s team will function as an integrated group under Anthem’s broader Diversified Business Group. Anthem hopes that the combination will let both teams to harness data more efficiently, grow clinical expertise and build a larger portfolio of “specialized products.”
Russell Petrella, Ph.D., Beacon’s president and CEO, will join the leadership team at the Diversified Business Group along with other senior leaders at Beacon. The team will concentrate on innovating behavioral health services and expanding the group.
Petrella said, they are excited to partner with Anthem to serve the behavioral health needs of more than 60 million Americans. Their member-focused, integrated clinical care model helps individuals and families to cope with their physical and behavioral health challenges.
Though the financial aspects of the deal weren’t announced, Anthem expects the acquisition to close by year end.