NEW YORK (AP) — Anthem is buying rival Cigna for $48 billion in a deal that would create the nation’s largest health insurer by enrollment, covering about 53 million U.S patients.
In just three weeks, starting with Aetna’s $35 billion bid for Humana Inc. on July 3, the landscape of U.S. health care has been altered in a buyout frenzy that could transform five massive U.S. health companies into just three, including UnitedHealth Group.
Larger insurers have negotiating power to squeeze better rates from drug companies and health care providers. But the wave of consolidation is likely to lead to fewer choices for consumers in certain markets.