Benzinga | Nov 10, 2021 08:11AM EST

Anthem To Acquire Integra Managed Care; Terms Not Disclosed

Anthem, Inc. (NYSE:ANTM) today announced that the company has entered into an agreement to acquire Integra Managed Care, a Managed Long-Term Care Plan in New York that helps adults with long term care needs and disabilities live safely and independently in their own home.

Integra currently serves 40,000 Medicaid members who benefit from a dedicated care management team that includes a Registered Nurse, Social Worker, and Coordinator who work in partnership with members, their families, and health care providers to ensure their long-term care needs are met.

"This acquisition aligns with our goal of growing Anthem's Medicaid business, while serving our members with a comprehensive and coordinated approach to care," said Felicia Norwood, Executive Vice President of Anthem's Government Business Division. "Like Anthem, Integra has established connections with community groups to gain a deeper understanding of how to best support the whole-health needs of the people we are privileged to serve."

Anthem is acquiring Integra from a wholly-owned indirect subsidiary of Personal Touch Holding Corporation. Integra has been serving communities by providing government sponsored coverage for a full range of long-term care services including services in the home, such as nursing, licensed physical, occupational and speech therapy services, and home health aide services. The acquisition is expected to close by the end of the second quarter of 2022 and is subject to customary closing conditions. Upon closing, Integra will join Anthem's Government Business Division. Financial terms of the transaction were not disclosed. Anthem's legal advisors are White & Case, Hinman Straub, and Lewis Rice. Ruskin Moscou Faltischek, Greenberg Taurig, and ESOP Law Group are acting as legal advisors for Integra. Stifel acted as the exclusive financial advisor to Integra in this transaction.