Health insurer Anthem, Inc. on Wednesday announced it would acquire palliative care provider Aspire Health, a company founded by former Senate Majority Leader Bill Frist.
Anthem did not disclose the financial terms of the acquisition, but the company said it expects the transaction to close in the third quarter of 2018. The Indianapolis-based insurer touted Aspire’s targeted patient support system, which identifies individuals with serious diseases who may require additional care.
“Aspire Health shares our perspective on the increasingly important role of integrated care and has built a unique model that provides palliative care and support services for patients and their families,” Anthem chief executive officer Gail Boudreaux said.
Aspire says it operates in 25 states and contracts with over 20 health plans. The company was founded in 2013 by Frist, a former GOP senator from Tennessee, and current CEO Brad Smith.
“As part of Anthem, we believe we will be able to further scale our model and positively impact the lives of even more consumers and families, making home-based advanced illness care available to patients who need it,” Smith said in a statement.
Anthem does not expect the transaction to impact earnings for fiscal year 2018. The insurer announced Tuesday it would maintain its headquarters in Indianapolis amid speculation it may move to Atlanta.
[Related: Anthem sees profits jump 30 percent after shedding Obamacare customers]
