Elevance Health, Inc. - ELV STOCK NEWS

Elevance Health released a study indicating that individuals experiencing long COVID face significantly higher risks for various adverse cardiovascular and pulmonary conditions, as well as increased mortality rates compared to those without COVID-19.

The study, the largest of its kind involving 13,435 long COVID patients, highlights that:

• 2.35 times more likely to experience cardiac arrhythmias
• 3.64 times more likely to face pulmonary embolism
• 2.8% mortality rate in long COVID patients versus 1.2% in non-COVID patients

This highlights a need for better care management programs to address these risks.

Elevance Health (NYSE: ELV) has finalized its acquisition of BioPlus, a notable specialty pharmacy, enhancing its capabilities in managing complex health conditions. This strategic move focuses on providing comprehensive pharmacy services across all 50 states, particularly for patients with chronic ailments like cancer and multiple sclerosis. The integration of BioPlus into Elevance’s CarelonRx will enable improved accessibility and affordability of specialty drugs, aiming to elevate patient care and experience. Elevance plans to expand BioPlus’ service models, aligning with its commitment to holistic healthcare solutions.

Elevance Health, Inc. (NYSE: ELV) announced that from October 15, 2022, its 2.750% Senior Convertible Debentures due 2042 will accrue a contingent interest of 0.50% per annum based on the average trading price over the preceding ten days. This translates to approximately $16.8123 per Note, payable on April 15, 2023, to record holders as of April 1, 2023. The company serves over 119 million individuals through various healthcare services, emphasizing its commitment to improving health outcomes.

Elevance Health reported strong financial results for Q4 and the full year 2022, with GAAP net income of $3.93 and $24.81 per share, respectively. Adjusted net income was $5.23 and $29.07 per share. Operating revenue increased 13.7% year-over-year to $156 billion, and operating gain grew 12.9% to $8.5 billion. Medical enrollment rose by 2.2 million members to 47.5 million. A quarterly dividend increased by 16% to $1.48 per share. For 2023, the company anticipates GAAP net income exceeding $29.80 per share. These results reflect Elevance’s progress towards becoming a trusted health partner, with strategic advances to optimize their businesses.

AM Best has confirmed that the Credit Ratings of Elevance Health (NYSE: ELV) and its subsidiaries remain unchanged after the announcement on January 23, 2023 regarding its acquisition of Louisiana Health Service and Indemnity Company, operating as Blue Cross and Blue Shield of Louisiana. BCBSLA serves over 1.9 million members with approximately $1.8 billion in capital. AM Best will monitor the acquisition's progress through legal and regulatory approvals, which may affect Elevance's financial leverage, projected to increase slightly beyond 40%. The acquisition is expected to be accretive to earnings and close in the second half of 2023.

Elevance Health has announced a definitive agreement to acquire Blue Cross and Blue Shield of Louisiana (BCBSLA). This acquisition aims to enhance community health services, leveraging Elevance's advanced healthcare capabilities. BCBSLA, serving over 1.9 million members, will continue to operate from Baton Rouge and maintain its local workforce of approximately 3,000 employees. The deal, expected to close later this year, will also establish the Accelerate Louisiana Initiative, a multibillion-dollar foundation focused on health equity. The acquisition is subject to customary closing conditions and regulatory approvals.

Elevance Health (NYSE: ELV) is set to release its fourth quarter 2022 financial results on January 25, 2023, at 6:00 a.m. EST. A conference call will follow at 8:30 a.m. EST, where management will discuss the results and future outlook. Interested participants should access the call 15 minutes early, using specific phone numbers for domestic and international calls. The call will also be available via a live webcast on Elevance Health's website.

Elevance Health (NYSE: ELV) has earned full three-year accreditation for health equity from the National Committee for Quality Assurance (NCQA) for 21 of its affiliated Medicaid plans. This accreditation highlights the company's commitment to enhancing health equity and addressing the needs of historically marginalized communities. Currently, 93% of Elevance Health's Medicaid members are enrolled in accredited plans, representing a significant achievement in the industry. The company aims to innovate and improve care for diverse populations across the nation.

Elevance Health has partnered with Impact Fitness Foundation to enhance the fitness resources at Herron-Riverside High School in Indianapolis. This initiative celebrates the inaugural Elevance Health Women’s Fort Myers Tipoff basketball tournament.

The upgraded facility, unveiled on November 16, features new equipment and aims to promote health and wellness, especially for the 60% female student-athlete population. This collaboration reflects Elevance Health's commitment to health equity and improving community health resources.