Elevance Health, formerly Anthem, will acquire Blue Cross Blue Shield of Louisiana (BCBSLA), with BCBSLA joining Indianapolis-based Elevance Health’s affiliated Anthem Blue Cross Blue Shield family of brands.

While financial terms of the acquisition were not made public, the combination builds on the existing collaboration in Louisiana through joint ownership of Healthy Blue, which serves Medicaid and Medicare dual eligible members.

The companies say the acquisition will benefit members by accelerating BCBSLA’s plans to improve access, affordability and quality of services. Members will be able to use services provided by Elevance’s healthcare services organization, Carelon. These services include behavioral health, complex and chronic care programs and innovative digital models.

BCBSLA has been in existence for nearly 90 years and serves more than 1.9mn members. BCBSLA’s 3,000 employees will join Elevance, but the plan’s headquarters will remain in Baton Rouge.

The acquisition is expected to close later this year.

Elevance took in $1.6 billion in profit in the third quarter of this year, marking a 7.2% gain from the same period in 2021. Revenues reached $39.9 billion, up 11.5% from the $35.8 billion in revenue posted a year ago.