Anthem Completes Trigon Acquisition

By Staff Writer

July 31, 2002 at 08:00 PM

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NU Online News Service, July 31, 5:55 p.m. – Anthem Inc., Indianapolis, says it will complete its previously announced $4.2 billion acquisition of Trigon Healthcare Inc., Richmond, Va., 11:59 p.m. tonight.

The companies have received all regulatory approvals and permission from the companies' shareholders.

Once Anthem, which already provides or administers major medical coverage for 8 million people, completes the deal, it will add another 2.2 million major medical plan members.

Trigon is the parent company of an insurer that holds Blue Cross and Blue Shield licenses for Virginia, and Anthem has Blue Cross and Blue Shield licenses for eight other states.

Tom Snead, previously chief executive of Trigon, will become president of Anthem's new Southeast region, Anthem says.

Anthem also announced the addition of three former Trigon board members to its own board. The new Anthem directors are Dr. Lenox D. Baker Jr., a surgeon with Mid-Atlantic Cardiothoracic Surgeons Ltd., Norfolk, Va.; John Sherman Jr., president of Scott & Stringfellow Inc., Richmond; and Jackie Ward,
president of Intec Telecom Systems, Atlanta.

Trigon Blue Cross Blue Shield will continue to operate under its old name until November, when it will change its name to Anthem Blue Cross and Blue Shield, Anthem says.

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