NU Online News Service, July 22, 1:18 p.m. – The Virginia State Corporate Commission says Anthem Inc., Indianapolis, can go ahead with its proposed acquisition of Trigon Insurance Company, Richmond, Va.
The final order means that Anthem, one of the biggest publicly traded managed-care companies in the United States, can complete its acquisition of Trigon’s parent company, Trigon Healthcare Inc.
Trigon Healthcare holds the Blue Cross and Blue Shield licenses for most of Virginia, and it is the biggest managed-care company in Virginia.
Although Virginia officials are letting Anthem acquire Trigon, they will require it to operate Trigon much as if Trigon were still a stand-alone company.
Under the approval order, Trigon must continue to handle many functions from offices in the commonwealth of Virginia. Those functions include claims processing and case management, customer service, actuarial services, underwriting, marketing, quality management, community relations, distribution management, sales, provider services, medical management and network development.
Anthem also must maintain a medical director licensed to practice medicine in Virginia for all of its entities performing utilization review, officials say.
“Anthem may not move any of these services out of the commonwealth without the prior written approval from the SCC’s Bureau of Insurance,” state officials say in a statement announcing the order. “The bureau would conduct a complete review before making any determination.”
Anthem and Trigon responded with a statement of their own welcoming the State Corporation Commission approval order