WellPoint is no longer WellPoint. The health insurance giant has officially changed its name to Anthem and its shares began trading Wednesday under the new ANTM ticker symbol.
The company announced its intent to change its corporate identity in August. Joseph Swedish, Anthem's CEO, told Modern Healthcare at the time that the insurer wanted to eliminate confusion for consumers and “demonstrate a brand that gives each person a value proposition.”
Shareholders overwhelmingly voted in favor of the name change in a special Nov. 5 meeting, with 99% giving the green light.
Anthem began as WellPoint in 2004 as the result of a merger between WellPoint Health Networks and Anthem. However, most of its health plan affiliates carry the Anthem name. Anthem, a licensee of the Blue Cross Blue Shield Association, offers plans in 14 states. Some of its biggest subsidiaries are Anthem Blue Cross in California and Empire BlueCross BlueShield in New York.
Anthem's California plan recently created a new HMO option with seven competing health systems in Southern California, a unique ploy that many in the industry see as a way to redefine local healthcare markets.
The company is one of the biggest publicly traded health insurers in the country. As of Sept. 30, Anthem covered 37.5 million people, with much of its growth occurring in the Medicaid, small group and individual exchange markets. Its stock is trading at roughly $128 per share, up 38% for the year.
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