Anthem to buy Cigna for $54B in mega insurance merger

July 24, 2015 4:02 PM

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Anthem to buy Cigna for $54B in mega insurance merger

The health care insurance industry's consolidation rush is accelerating with insurance giant Anthem's (ANTM) deal to acquire Cigna (CI) in a transaction valued at $54.2 billion.

Anthem on Friday confirmed that it has reached a deal to buy Cigna, creating a mammoth for-profit insurer with annual revenues of more than $115 billion and more than 53 million insured patients.

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