Anthem has completed its acquisition of HealthSun, an integrated Medicare Advantage health plan and delivery network in Florida.
The deal will add about 40,000 members in Miami-Dade and Broward counties to Anthem's 650,000 Medicare and Medicaid consumers in the state.
HealthSun has a network of 19 wholly-owned primary care and specialty centers. In addition, the MA health plan also provides pharmacy support, transportation services and integrated medical cost management, Anthem said.
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Financial terms of the transaction were not disclosed.
"The acquisition of HealthSun will benefit our Medicare Advantage consumers in Florida and the company's extensive experience in creating unique integrated delivery systems will help us to better serve all of our Medicare Advantage consumers as we move forward," Anthem CEO Gail K. Boudreaux said Thursday in a statement of the completed acquisition.
HealthSun will operate as a wholly-owned subsidiary of Anthem and their associates will join Anthem's Government Business Division.
MA is a fast-growing business with the aging of baby boomers. About one-third of Medicare enrollees are in a Medicare Advantage plan.
The transaction is expected to give a slight growth to earnings in 2018, Anthem said.