Anthem, Inc. Announces Intent for Corporate Rebranding

Rhea-AI Summary

Anthem, Inc. (NYSE: ANTM) announced its intent to rebrand as Elevance Health, Inc., pending shareholder approval. This change reflects the company's mission to improve health by addressing physical, behavioral, and social drivers. The rebranding aims to simplify consumer experiences and optimize the brand portfolio while retaining existing health plan names. CEO Gail Boudreaux emphasized the commitment to becoming a holistic health partner and serving over 118 million consumers with enhanced digital capabilities and integrated care solutions.

Positive

• Rebranding to Elevance Health aims to enhance brand identity and reflect a broader health-focused mission.
• Increased focus on a holistic approach to health addressing various consumer needs.
• Anthem serves more than 118 million consumers, indicating strong market presence.
• Anthem's strategy includes streamlining brands to improve consumer experiences.

Negative

• None.

New Holding Company Name, Elevance Health, Reflects Focus to Elevate Health and Advance Healthcare

INDIANAPOLIS--(BUSINESS WIRE)-- Anthem, Inc. (NYSE: ANTM) today announced its intent to change its name to better reflect the company’s business and its bold purpose of improving the health of humanity. Anthem intends to become Elevance Health, Inc., subject to shareholder approval. The new name underscores the company’s commitment to elevating whole health and advancing health beyond healthcare.

“Improving health means more than just treating what ails us. We must address whole health and the physical, behavioral, and social drivers that impact it,” said Anthem President and CEO Gail Boudreaux. “This need has driven our transformation from a health benefits organization to a lifetime, trusted health partner. Our commitment to always expect more from ourselves has led us to reimagine the way we operate and take a more holistic approach to health. As Elevance Health, we will continue to work toward a healthcare system that better serves the needs of our consumers, care providers, communities, partners, and associates.”

Anthem’s family of companies has evolved to offer products and services beyond traditional health insurance. Through its digital capabilities, pharmacy, behavioral, clinical and complex care assets the company is able to address consumers’ full range of needs with an integrated, whole-person approach. It’s through these diverse assets that the company will deliver on its strategy, drive growth and exceed expectations for consumers.

“Elevance Health represents who we are today. Powered by industry-leading capabilities and a digital platform for health, Elevance Health’s companies will serve people across the entire care journey, connecting them to the care, support, and resources they need to lead healthy lives,” added Boudreaux. “By simplifying every step and making health more equitable and accessible, Elevance Health will remain committed to helping everyone reach their full potential.”

The corporate rebranding is a first step in the company’s effort to optimize its brand portfolio. While Anthem Blue Cross Blue Shield health plans’ names will not change, the company does expect to streamline the number of other brands in the market to reduce complexities and improve consumer experiences.

“This is an exciting and necessary evolution for our business that has grown to more than 90,000 talented and dedicated associates, serving nearly 600 national employers, over 1.1 million care providers and alliance partners, and more than 118 million consumers,” said Boudreaux. “Together, we will continue working tirelessly to make a healthier future a reality.”

For more information visit: www.elevancehealth.com.

About Anthem, Inc.

Anthem is a leading health company dedicated to improving lives and communities, and making healthcare simpler. Through its affiliated companies, Anthem serves more than 118 million people, including more than 45 million within its family of health plans. Delivering health beyond healthcare, Anthem is expanding from being a partner in health benefits to a lifetime, trusted health partner. For more information, please visit www.antheminc.com or follow @AnthemInc on Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220309005991/en/

Media Contact:

Leslie Porras

Leslie.Porras@anthem.com

Investor Relations:

Stephen Tanal

Stephen.Tanal@anthem.com

Source: Anthem, Inc.

FAQ

What is the new name for Anthem, Inc. as announced in the recent press release?

Anthem, Inc. intends to change its name to Elevance Health, Inc.

Why is Anthem, Inc. changing its name to Elevance Health, Inc.?

The name change reflects Anthem's commitment to improving health beyond just healthcare, focusing on holistic approaches.

How many consumers does Anthem, Inc. serve?

Anthem, Inc. serves over 118 million consumers.

What is the stock symbol for Anthem, Inc.?

The stock symbol for Anthem, Inc. is ANTM.

What impact does the rebranding have on Anthem's existing health plans?

Existing health plan names will not change as part of the rebranding.