Two days after the district court issued its decision to block Aetna's proposed $37 billion acquisition of Humana over antitrust concerns, Anthem filed four pages of arguments citing excerpts of the judge's ruling as evidence its planned acquisition of Cigna should proceed, the Hartford Courant reports.
Indianapolis-based Anthem pointed to the portion of U.S. District Judge John Bates' opinion that Hartford, Conn.-based Aetna's purchase of Louisville, Ky.-based Humana would not result in cost savings for consumers. Anthem officials specifically argued Aetna said 42 percent of savings from its transaction would benefit consumers, while Anthem said 98 percent of savings from the Anthem-Cigna deal would transfer to companies taking their own insurance risk.
Anthem also argued by absorbing Cigna, it would no longer be in competition with the Bloomfield, Conn.-based insurer, allowing Humana to take Cigna's place as a large national competitor.
Justice Department lawyers responded to the filings with a one-paragraph reply, insisting the insurer reiterated the same arguments it put forth during its antitrust trial. DOJ lawyers said savings could only balance a lack of competition if they did not result from a single insurer maintaining a monopolistic presence, according to the report.