Welcome to our dedicated page for Elevance Health news (Ticker: ELV), a resource for investors and traders seeking the latest updates and insights on Elevance Health stock.
Elevance Health, Inc. operates a health benefits and healthcare services platform built around affiliated health plans and the Carelon services business. Recurring company news covers Health Benefits results, premium yields, medical-cost trends, Medicaid, Medicare Advantage and employer group membership, and Carelon activity in pharmacy services, behavioral health, value-based care, care delivery, clinical, home health and complex care solutions.
Company updates also address small and midsize employer benefit offerings such as Balanced Funding and MEWAs, primary-care recognition and value-based provider programs, partnerships tied to family and community health, annual and quarterly financial guidance, and leadership changes across Health Benefits and Carelon.
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.
Elevance Health announces its agreement to acquire BioPlus, a specialty pharmacy under CarepathRx, enhancing its specialty drug solutions for complex conditions like cancer and autoimmune diseases. This acquisition supports Elevance's whole-health strategy, aiming to improve access and reliability for clients. Post-acquisition, BioPlus will operate under IngenioRx, Elevance's pharmacy benefit manager. The deal is set to close in the first half of 2023, with no expected material impact on adjusted earnings per share this year.
Elevance Health (NYSE: ELV) will present at the 4th Annual Wolfe Research Healthcare Conference in New York City on November 16 at 10:00 a.m. EST. Stakeholders can access the live webcast by visiting Elevance Health’s website. A replay will be available for 90 days post-presentation. Elevance Health is dedicated to enhancing healthcare access for over 119 million individuals through its comprehensive portfolio of medical, digital, and behavioral health solutions.