If approved, the $54 billion acquisition of Cigna by Anthem would have reduced the number of national health insurance carriers from four to three.
According to Justice Department statements, it would have been the largest transaction of this type in the healthcare industry, and would have crippled competition in over 30 individual healthcare markets across the nation.
In the original decision, Judge Amy Berman Jackson cited the effect such a merger would have on the health insurance market of Richmond, VA.
If approved the merger would give the new insurer entity a 77 percent market share in Richmond.
For the appeal the AHA testified against Anthem’s assertion that a merger would bring efficiencies and cost savings to the healthcare markets.