Elevance Health Acquires Blue Cross and Blue Shield of Louisiana

The Standard Acquires Life & Disability Business From Elevance Health

April 1, 2024

Insurance

StanCorp Financial Group, Inc. (The Standard) has closed its acquisition of the Life & Disability business from Elevance Health and entered a 10-year distribution partnership to make The Standard's products available to Elevance Health customers. The acquired life and disability operations and employees will operate under The Standard brand, pairing The Standard's sales capabilities with Elevance Health's medical sales team to expand distribution and capabilities in the employee benefits market.

CareFirst BlueCross BlueShield Acquires University of Maryland Health Partners and University of Maryland Health Advantage

November 27, 2020

Healthcare Services

CareFirst BlueCross BlueShield has agreed to acquire University of Maryland Health Partners (UMHP) and University of Maryland Health Advantage (UMHA) from the University of Maryland Medical System (UMMS). The transaction brings UMMS’s Medicaid and Medicare Advantage plans into CareFirst’s not-for-profit structure to expand its presence in government-sponsored programs and ensure continued coverage for enrollees across Maryland.

Elevance Health Acquires Paragon Healthcare

March 11, 2024

Healthcare Services

Elevance Health has closed its acquisition of Plano, Texas–based Paragon Healthcare, an infusion services and drug therapy provider operating more than 40 ambulatory infusion centers and serving over 35,000 patients. Paragon will operate under Elevance’s CarelonRx pharmacy services segment to expand access to specialty medications and scale infusion capabilities; financial terms were not disclosed (Axios reported the purchase may exceed $1 billion).

MDI NetworX Acquires Cobalt MedPlans from Cobalt Health Solutions

November 24, 2025

Healthcare Services

MDI NetworX has acquired Cobalt MedPlans (Clarity Performance Solutions) from Cobalt Health Solutions, a wholly owned subsidiary of Blue Cross and Blue Shield of Kansas City. The deal brings approximately 250 U.S.-based employees and two Kansas locations into MDI, expanding its U.S. delivery footprint and enabling deployment of MDI's InsightPro AI-enabled platform to enhance payer services.

Molina Healthcare Acquires Affinity Health Plan

September 29, 2020

Healthcare Services

Molina Healthcare, Inc. agreed to acquire substantially all assets of Affinity Health Plan for approximately $380 million, funded with cash on hand. The acquisition expands Molina's Medicaid footprint and membership in New York (including New York City and surrounding counties) and is expected to be accretive to adjusted EPS subject to regulatory approvals.

Carenet Health Acquires Balto Health Services

April 22, 2025

Healthcare Services

Carenet Health has acquired Balto Health Services to expand its bilingual managed services and patient/member engagement capabilities. The acquisition brings Balto’s Biloxi and El Salvador operations into Carenet’s platform to better serve start‑up and mid‑sized healthcare organizations, particularly those serving Medicare, Medicaid and government‑sponsored populations.