Mergers & Acquisitions
The organizations say their combined strengths will help to advance the level of care for patients in New York and Connecticut.
Dr. Peter Bonis, chief medical officer at Wolters Kluwer Health, says the acquisition of drug-diversion company Invistics is helping to route appropriate medications to the right patients.
The insurer says it believes it needs a strong partner to help position the company for a "vibrant future" and to make healthcare more affordable.
Novant Health bought three for $2.4B and UCI Health has agreed to pay $975M for four.
The company will redirect its resources to Evernorth Health Services and Cigna Healthcare.
The resulting lack of competition would increase annual healthcare costs by several million dollars, says FTC.
Paramount will continue to offer its health plans, with no immediate change to how current members do business with either company.
Decision is forced by ongoing financial challenges with Saltzer "optimistic" a buyer can be found.
Investor confidence is spurred by an expectation of lower interest rates, while the presidential election looms as a question mark.
In addition to the acquisition, the company has named Jim Moffett as FastMed's new CEO, the company said.