Anthem, Inc. To Acquire myNEXUS, Home Health Benefits Manager
March 24 2021 - 8:00AM
Business Wire
Anthem, Inc. (NYSE: ATNM) today announced that the company has
entered into an agreement to acquire myNEXUS, Inc. (“myNEXUS”), a
comprehensive home-based nursing management company for payors.
myNEXUS delivers integrated clinical support services for
approximately 1.7 million Medicare Advantage members across 20
states.
“Providing timely care for members in their homes allows for
both excellent personalized care as well as the comfort of being in
preferred environments,” said Prakash Patel, M.D., Anthem Executive
Vice President, and President, Anthem Diversified Business Group.
“Bringing the right level of whole person care into the home has
been demonstrated to improve outcomes, reduce readmissions and
improve members’ and their family’s experience of wellbeing.”
myNEXUS deploys a user-friendly platform for providers to highly
automate the home visit authorization process, speed time to care,
increase provider effectiveness and improve member satisfaction.
The digital platform combines an advanced analytic rules engine,
with a clinical staff of over 250 clinicians to effectively plan
for and to optimize home care. Additionally, myNEXUS has
established a nationwide network of high performing home health
providers and nurse agencies including nine of the top ten highest
quality national and local providers.
Juan Vallarino, CEO of myNEXUS, said, “The myNEXUS team is
thrilled to be partnering with Anthem to build upon the value we
deliver to our customers and their members. The strength of
Anthem’s Diversified Business Group platform will allow us to
broaden our capabilities as we strive to transform how quality
healthcare is delivered to the people we serve.”
This transaction aligns with Anthem’s strategy to manage
integrated, whole person multi-site care and support, by providing
national, large-scale expertise to manage nursing services in the
home and facilitate transitions of care. The myNEXUS solution and
network will enhance Anthem’s continued expansion to deliver care
for members in a coordinated manner, leveraging both high touch
support and technology driven capabilities.
Anthem is acquiring myNEXUS from an investor group led by
WindRose Health Investors, a New York-based healthcare private
equity firm. The acquisition is expected to close in the second
quarter of 2021 subject to customary closing conditions. Upon
closing, myNEXUS will operate as a wholly-owned subsidiary of
Anthem and will join Anthem’s Diversified Business Group. Financial
terms of the transaction were not disclosed. The company’s 2021 EPS
guidance remains unchanged as a result of this acquisition.
Anthem’s legal advisors are White & Case LLP and Faegre,
Biddle, Drinker & Reath LLP. Latham & Watkins LLP and
Waller Lansden Dortch & Davis, LLP are acting as legal advisors
for myNEXUS.
About Anthem, Inc.
Anthem is a leading health benefits company dedicated to
improving lives and communities, and making healthcare simpler.
Through its affiliated companies, Anthem serves more than 107
million people, including approximately 43 million within its
family of health plans. We aim to be the most innovative, valuable
and inclusive partner. For more information, please visit
www.antheminc.com or follow @AnthemInc on Twitter.
About myNEXUS, Inc.
myNEXUS is a post-acute benefits management company focused on
delivering innovative home and community-based product offerings.
myNEXUS provides comprehensive management services to health plans
and other risk-bearing organizations on an at-risk or
fee-for-service basis for total medical expense related to
Integrated Home Health, Stars Performance Improvement Program,
Social Determinants of Health, Inpatient Avoidance and Clinical
Programs.
Forward-Looking Statements
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the meaning of the Private Securities Litigation Reform Act of
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statements are subject to certain risks and uncertainties, many of
which are difficult to predict and generally beyond our control,
that could cause actual results to differ materially from those
expressed in, or implied or projected by, the forward-looking
statements. You are cautioned not to place undue reliance on these
forward- looking statements that speak only as of the date hereof.
You are also urged to carefully review and consider the various
risks and other disclosures discussed in our reports filed with the
U.S. Securities and Exchange Commission from time to time, which
attempt to advise interested parties of the factors that affect our
business. Except to the extent otherwise required by federal
securities laws, we do not undertake any obligation to republish
revised forward-looking statements to reflect events or
circumstances after the date hereof. These risks and uncertainties
include, but are not limited to: the impact of large scale medical
emergencies, such as public health epidemics and pandemics,
including COVID-19, and catastrophes; trends in healthcare costs
and utilization rates; our ability to secure sufficient premium
rates, including regulatory approval for and implementation of such
rates; the impact of federal and state regulation, including
ongoing changes in the Patient Protection and Affordable Care Act
and the Health Care and Education Reconciliation Act of 2010, as
amended (collectively, the “ACA”) and the ultimate outcome of legal
challenges to the ACA; changes in economic and market conditions,
as well as regulations that may negatively affect our liquidity and
investment portfolios; our ability to contract with providers on
cost-effective and competitive terms; competitive pressures and our
ability to adapt to changes in the industry and develop and
implement strategic growth opportunities; reduced enrollment;
unauthorized disclosure of member or employee sensitive or
confidential information, including the impact and outcome of any
investigations, inquiries, claims and litigation related thereto;
risks and uncertainties regarding Medicare and Medicaid programs,
including those related to non-compliance with the complex
regulations imposed thereon; our ability to maintain and achieve
improvement in Centers for Medicare and Medicaid Services, or CMS
Star ratings and other quality scores and funding risks with
respect to revenue received from participation therein; a negative
change in our healthcare product mix; costs and other liabilities
associated with litigation, government investigations, audits or
reviews; the ultimate outcome of litigation between Cigna
Corporation and us related to the merger agreement between the
parties and the potential for such litigation to cause us to incur
substantial additional costs, including potential settlement and
judgment costs; risks and uncertainties related to our pharmacy
benefit management (“PBM”) business including non-compliance by any
party with the PBM services agreement between us and CaremarkPCS
Health, L.L.C.; medical malpractice or professional liability
claims or other risks related to healthcare and PBM services
provided by our subsidiaries; general risks associated with
mergers, acquisitions, joint ventures and strategic alliances;
possible impairment of the value of our intangible assets if future
results do not adequately support goodwill and other intangible
assets; possible restrictions in the payment of dividends from our
subsidiaries and increases in required minimum levels of capital;
our ability to repurchase shares of our common stock and pay
dividends on our common stock due to the adequacy of our cash flow
and earnings and other considerations; the potential negative
effect from our substantial amount of outstanding indebtedness; a
downgrade in our financial strength ratings; the effects of any
negative publicity related to the health benefits industry in
general or us in particular; failure to effectively maintain and
modernize our information systems; events that may negatively
affect our licenses with the Blue Cross and Blue Shield
Association; the impact of international laws and regulations;
changes in U.S. tax laws; intense competition to attract and retain
employees; and various laws and provisions in our governing
documents that may prevent or discourage takeovers and business
combinations.
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version on businesswire.com: https://www.businesswire.com/news/home/20210324005316/en/
Media Contact: Michelle Vanstory
Michelle.Vanstory@anthem.com
Investor Relations: Stephen Tanal
Stephen.Tanal@anthem.com
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