Louisiana, Oregon deals show health insurer acquisitions aren’t a sure thing anymore

A deal is never really done until it’s done.

On Tuesday, two different proposed insurance plan acquisitions on different sides of the country called it quits — one of them for the second time.

California-based Medicare Advantage insurer SCAN Group has been trying to buy CareOregon, an insurer offering coverage to half a million people in Oregon’s state health plan, since January 2023. National insurer Elevance has also been trying to buy Blue Cross and Blue Shield of Louisiana since last January. The on-again, off-again purchase was paused in September 2023 because of state regulators’ concerns, but was resubmitted with a slightly different plan in December.

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