Anthem Inc. fired back against U.S. claims that the health insurer’s planned $48 billion takeover of rival Cigna Corp. will undermine competition, with an Anthem executive testifying that the company plans to use Cigna to compete in new markets.
Acquiring Cigna will give Anthem a way to vie for business against Blue Cross & Blue Shield Association plans around the country, said Morgan Kendrick, Anthem’s president of national accounts. As a member of the association, Anthem is restricted in competing against other Blue Cross Blue Shield plans, but Kendrick testified Tuesday that Cigna won’t be.
"Our intent is to aggressively compete" using Cigna as a tool, he said.
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