Anthem shareholders Wednesday approved the health insurer’s plan to become Elevance Health in a major rebranding designed to focus the health insurance company on “whole health” of customers and patients.
The approval of the new holding company name to Elevance Health “underscores the company’s commitment to elevating whole health and advancing health beyond healthcare and its evolution to offer products and services beyond traditional health insurance,” Anthem said in a statement. On June 28, the new holding company name will become official when company executives ring the opening bell at the New York Stock Exchange and shares “begin trading under the new ticker symbol ELV,” the company said.
Anthem, which operates an array of government and commercial health insurance including Blue Cross and Blue Shield plans in 14 states, is the nation’s second-largest provider of health benefits behind UnitedHealth Group’s UnitedHealthcare.
The corporate rebranding, which will be the company’s second in less than a decade, is being done to reflect the company’s businesses and operations, which have changed dramatically under the four-year reign of chief executive officer Gail Boudreaux. She has engineered several acquisitions, invested heavily in digital capabilities to engage consumers and overseen the launch of the health insurer’s own pharmacy benefit management company, IngenioRx.
“The result of today’s vote reflects the shareholders’ affirmation that our company continues to transform to a lifetime, trusted health partner that offers a range of health-related services, including traditional health benefits,” Boudreaux said.
“This change is the next important chapter in our journey, and better reflects our business and the company we are today,” Boudreaux added. “Fueled by our bold and ambitious purpose to improve the health of humanity, I look forward to creating opportunities to deliver innovative products and services as well as move health forward, in order to better serve the needs of our consumers, care providers, communities, partners, and associates.”