As the company looks to broaden its horizons beyond the health insurance business, Anthem Inc announced Thursday that it intends to change its name to Elevance Health Inc.
A company rebranding move by the U.S. based health insurer is not the first of its kind, after changing its name from WellPoint Inc around eight years ago.
The company said in a statement that the rebranding is a first step of a drive to enhance the company’s brand portfolio. The health plans of Anthem’s Blue Cross Blue Shield will not to be renamed, the company confirmed.
Attempting to make its way in a changing health insurance landscape, Blue Cross Blue Shield operates in several states with a Blue Cross Blue Shield plan.
Rivals such as Cigna Corp have merged with the biggest pharmacy benefits managers(PBMs) in the U.S.
As a result of ending a long-term relationship with Express Scripts Holding Co, which is now part of Cigna, Anthem launched its in-house pharmacy benefits management business IngenioRx in 2019.
The percentage of IngenioRx’s total operating revenue that Anthem received in the quarter ended Dec. 31 was approximately 19%.
A home-based nursing management company, myNEXUS Inc, acquired by the U.S. based company in April.