Insurance giant Anthem is in talks to take over rival Cigna as further proof that consolidation in healthcare is growing rapidly.
Over the past 10 days, Anthem made two bids to acquire Cigna, with the last at about $175 a share, the Wall Street Journal reported, citing two people with knowledge of the talks. So far Cigna has turned down Anthem’s advances.
If the deal happens, it would be the latest evidence of a booming trend towards consolidation in the healthcare field.
Earlier this year, insurer Humana was the subject of reported takeover talks.
Insurers aren’t the only ones in the healthcare field pursuing consolidation.
Moody’s Investors Services reported in January that pharmaceutical companies would continue to acquire smaller firms to expand their drug pipelines.
In addition, hospitals and hospital systems would continue to consolidate as they face pressures on reimbursement from insurers and new provisions of the Affordable Care Act, Moody’s said in an investment report earlier this year.
