Appeals court upholds decision to block Anthem bid for Cigna
The 2-1 decision upholds a federal judge's ruling in February that said the proposed
Anthem argued the combination would save
The ruling from the
Consumer groups also had opposed the deal, arguing it would leave consumers fewer choices. Industry experts suggested any consumer impact from the deal would take years to materialize and could lead to savings in some areas but higher costs elsewhere.
Writing for the majority, Judge
In dissent, Judge
In a statement, Anthem said it was still "committed to completing the transaction" and reviewing its options.
Anthem had pushed the deal as a way to help the companies negotiate better prices with pharmaceutical companies, hospitals and doctor groups. The company also said the deal would help cut expenses and add more customers, which helps insurers spread out the cost of investing in technology to manage and improve care.
CEO
Swedish said earlier this week that Anthem is making tentative plans to return to the exchanges next year, but that could change if it doesn't know for certain by early June whether the government will fund an important cost-sharing subsidy for consumers.
Earlier this year, another federal judge blocked
Friday's decision generated little surprise on
Murphy reported from
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