Elevance acquired multiple specialty care and pharmacy firms in 2024, including home health company CareBridge.
On a Jan. 23 call with investors, Elevance Health CEO Gail Boudreaux said the CareBridge acquisition will serve as a foundation for Carelon’s home health business. Carelon, Elevance Health’s health services arm, brought in $53.9 billion in revenue in 2024.
“The expanding breadth and diversity of our pharmacy, advanced primary care, and home and community-based solutions will serve members and drive greater alignment with our health plans,” she said.
Mr. Haytaian said future acquisitions will continue to hone in on specialty and pharmacy areas.
“There are many areas of interest, when you think about where specialty trends are, how that impacts the different lines of business, we continue to evaluate that,” he said.
The company will continue to be “opportunistic” in pharmacy, Mr. Haytaian said. Elevance closed the acquisition of Kroger Specialty Pharmacy in October and sees “tremendous opportunity” in reducing fragmentation through technology and data, he said.
Elevance Health also launched Mosaic Health in 2024, a joint venture with private equity firm Clayton, Dubilier & Rice. The primary care provider has served nearly 1 million consumers since launching, Ms. Boudreaux told investors.
In addition to acquiring providers, the company acquired Indiana University Health’s insurance business at the beginning of 2025. Elevance Health also struck a deal to acquire Blue Cross Blue Shield of Louisiana, but the companies paused the deal in 2024 after lawmakers opposed the acquisition.
On the Jan. 23 investor call, Ms. Boudreaux said she would not comment as to whether Elevance could still acquire BCBS Louisiana.
