Monday, Oct. 27, 2003 | 11:11 a.m.
INDIANAPOLIS -- Health benefits insurer Anthem Inc. said today it's buying bigger rival WellPoint Health Networks Inc. of Thousand Oaks, Calif., for about $16.4 billion in cash and stock in a deal that will combine the nation's two largest Blue Cross Blue Shield concerns.
Indianapolis-based Anthem insures about 37,000 people in Clark County.
The combined company's name will be WellPoint Inc., with the corporate headquarters in Indianapolis.
In another managed care deal today, UnitedHealth Group of Minnetonka, Minn., agreed to buy Mid Atlantic Medical Services Inc. of Rockville, Md., for $2.95 billion to give UnitedHealth a leading position in the mid-Atlantic region.
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