Anthem (NYSE: ANTM) has completed its acquisition of Beacon Health Options.
Financial terms of the transaction were not disclosed.
Prior to the deal, Boston-based Beacon billed itself as the largest independently held behavioral health organization in the country, serving more than 36 million people nationwide. Meanwhile, Indianapolis-based Anthem — which first announced it would buy Beacon from Bain Capital Private Equity and Diamond Castle Holdings back in June — is one of the largest health insurance plan providers in the U.S.
The acquisition will allow Anthem to combine and supplement its behavioral health offerings with Beacon’s in an effort to “enhance whole person care.”
Specifically, that means helping Anthem build a stronger portfolio of specialized products and providing it with more clinical expertise and improved data. Additionally, the deal will give beneficiaries “broader provider networks and access to timely, personalized behavioral health services in settings suited to their unique needs,” according to a press release announcing the news.
“Consumers and health plan customers alike will benefit from our ability to scale and integrate physical and behavioral capabilities in new and meaningful ways to improve lives,” Anthem President and CEO Gail Boudreaux said in the press release.
To coincide with the deal news, Anthem also announced it would provide Mental Health America with a $100,000 grant through its philanthropic arm, the Anthem Foundation. The money will help fund MHA’s Screening to Supports (S2S) program, an online platform that offers free, anonymous mental health screenings and next-step recommendations to nearly one million people per year.