Following the Department of Justice’s lawsuit about the pending payer megamergers, Anthem is the first of the four payers to file paper to fight the suit, according to Bloomberg.
Here are five takeaways:
1. Anthem filed paper on July 26 in a federal court in Washington, D.C., claiming its $48 billion proposed merger would lower consumer costs.
2. The payer also said the combined entity would offer coverage to more people and would allow the company to offer coverage in territories where neither payer is currently participating.
3. Anthem asked the federal judge to set the trial date for October as it its projected to extend for four months. The payer also asked U.S. District Judge John D. Bates to fast-track the case by making a decision nearly a month after the four-month trial.
4. The payer extended its agreement to buy Cigna until the end of April next year.
5. In its suit against Anthem's Cigna acquisition, officials claimed the merger would stifle competition in a market that is already undergoing major consolidation, which is negatively impacting customers, physicians and hospitals.
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