News Headlines Article

Anthem-Cigna health care megamerger under scrutiny
San Francisco Chronicle

Anthem Inc.’s proposed $54 billion acquisition of Cigna Corp., which would create the country’s largest health insurer, faces scrutiny Tuesday as state regulators hold a public hearing in San Francisco to address concerns about the megamerger. The hearing comes a week after state regulators approved the merger of HealthNet and Missouri’s Centene Corp. That significantly smaller, $7 billion deal went largely unopposed. The same can’t be said of the Anthem-Cigna acquisition, which would create a company with $115 billion in annual revenues and insure 53 million members. Critics argue the merger would reduce competition, increase rates and make it harder for patients to find doctors.