WASHINGTON (dpa-AFX) - Health insurer Anthem, Inc. (ANTM) agreed Thursday to acquire Beacon Health Options, the largest independently held behavioral health organization in the country, from Bain Capital Private Equity and Diamond Castle Holdings. Financial terms of the transaction were not disclosed.
Beacon currently serves more than 36 million individuals across all 50 states, including nearly 3 million individuals under comprehensive risk-based behavioral programs.
The acquisition aligns with Anthem's strategy to diversify into health services and deliver market-leading integrated solutions and care delivery models that personalize care for people with complex and chronic conditions.
Upon completion, Beacon, combined with Anthem's behavioral health business, will operate as an integrated team within Anthem's Diversified Business Group.
Beacon President and CEO Russell Petrella as well as other key members of Beacon's senior team, will join Anthem's Diversified Business Group to lead the efforts to offer innovative behavioral health solutions and further expand this business.
The acquisition is expected to close in the fourth quarter of 2019 and is subject to standard closing conditions, customary state regulatory approvals and the expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. The transaction is expected to be slightly accretive to adjusted earnings in 2020.
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