Anthem, Inc. (NYSE:ANTM) entered into a definitive agreement to acquire Beacon Health Options from Bain Capital Private Equity, LP and Diamond Castle Holdings, LLC on June 6, 2019. Upon completion, Beacon, combined with Anthem’s behavioral health business, will operate as an integrated team within Anthem’s Diversified Business Group. Russell C. Petrell., Beacon Health Options President and Chief Executive Officer, as well as other key members of Beacon’s senior team, will join Anthem’s Diversified Business Group. The acquisition is subject to standard closing conditions, customary state regulatory approvals and the expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and is expected to close in the fourth quarter of 2019. As of January 29, 2020, the transaction is expected to close later in the first quarter of 2020. The transaction is expected to be slightly accretive to adjusted earnings in 2020. Stuart Smith, Michael Muntner, Mark Linford and Matthew Baron of Centerview Partners LLC acted as financial advisors and Jennifer L. Chu, Jonathan E. Levitsky, Peter A. Furci, Henry Lebowitz, Elizabeth Pagel Serebransky, Michael G. Stern, Spencer K. Gilbert, Ashytn T.S. Ka, Yana M. Mereminsky, Molly F. Stockley and Nana Agyeman Taylor of Debevoise & Plimpton LLP acted as legal advisor to Beacon. Michael Deyong, Dan Dufner, Steven Gee, Henrik Patel, Daren Orzechowski, Jordan Kobb, Adam Plotkin, Harry Hudesman and Narissa Lyngen of White & Case LLP acted as legal advisors to Anthem. Jared Danilson of Faegre Baker Daniels LLP advised on insurance regulatory matters to Anthem. UBS Investment Bank acted as financial advisor to Anthem in the acquisition. Barbara Becker from Gibson, Dunn & Crutcher LLP served as the legal advisor to UBS Investment Bank.