NU Online News Service, Jan. 29, 2004, 6:01 p.m. EST – Higher rates, lower costs and acquisitions helped profits at Anthem Inc. and WellPoint Health Networks Inc. in the fourth quarter of 2003.[@@]
Anthem, Indianapolis, is acquiring WellPoint, a larger managed care company based in Thousand Oaks, Calif., through a merger.
Anthem is reporting $208.8 million in net income for the latest quarter on $4.3 billion in revenue, up from $171.9 million in net income on $4 billion in revenue for the fourth quarter of 2002. Anthem recently completed the acquisition of Trigon Healthcare Inc., a Virginia Blue Cross and Blue Shield company.
WellPoint is reporting $271.5 million in net income for the latest quarter on $5.5 billion in revenue, up from $180 million in net income on $4.6 billion in revenue. WellPoint recently completed the acquisition of Cobalt Corp., the Wisconsin Blue Cross and Blue Shield Company.