After seven months of review, the Kentucky Department of Insurance has approved Anthem’s application to purchase Cigna Dental Health of Kentucky, Inc.
The department’s analysts have concluded that the acquisition would not unfairly reduce competition, nor create a monopoly. It would also not jeopardize the insurers and the insurance-buying public.
“We have a duty to protect consumers and we take that responsibility very seriously,” said Insurance Commissioner Brian Maynard. “Our internal analysts and external independent economists found that this acquisition would not substantially lessen competition on a state-wide basis due to Cigna’s small share of the overall Kentucky insurance market.”
Despite the approval, the Department still has the ability to investigate matters related to both companies. Nationally, the proposed deal must be reviewed in 26 states. At least 10 other states have already approved the transaction.
