WellPoint Inc (NYSE:WLP) announced its decision to change its corporate name to Anthem, Inc. to better reflect its purpose and strategy to help transform health care. The change would also allow the company to better align its corporate and product brands.
Anthem brand is built on the foundation of trust
According to WellPoint Inc (NYSE:WLP), the Anthem brand is built on the foundation of trust, and it reflects its commitment to serving as a trusted partner in health.
In a statement, Joseph Swedish, president and CEO of WellPoint Inc (NYSE:WLP) said, “As consumer engagement is heightened, we recognize that brand—an indicator of trust and a predictor of willingness to engage—is going to be of increasing importance. We believe it is important to call ourselves by the name that people know best—Anthem.”
Swedish emphasized that millions of people experience the company’s promise as a trusted partner every day. According to him, WellPoint’s family of companies provide information and tools to empower individuals to understand and manage their health better. He said, “Trust is central to who we are and what we stand for as a company.”
Anthem is the best brand to lead the company
According to Swedish, changing the corporate brand from WellPoint Inc (NYSE:WLP) to Anthem, Inc. also enables the company to streamline the communications if its values, and the impact of its family of companies to its members, partners and investors.
Swedish emphasized, “Brand is a significant driver of consumer purchasing decisions across our businesses. As we move closer to a consumer-centric marketplace, we believe Anthem is the best brand to lead our company forward to becoming more consumer capable company.”
WellPoint Inc (NYSE:WLP) said the change is expected to happen by the end of this year. The company scheduled a special shareholder meeting regarding the approval of the matter on Wednesday, November 5 in Indianapolis, Indiana.
WellPoint’s quarterly financial performance
Last month, WellPoint Inc (NYSE:WLP) reported its second-quarter financial results. Its net income was $2.56 per share including net gains of $0.12 per share. Its adjusted net income was $2.44 per share. According to the company, its medical enrollment rose 0.9% or 328,000 to 37.3 million as of June 30, 2014.
“Our strong second quarter results and growing customer base demonstrate the value of our focus on improving healthcare affordability, access, and quality in an evolving market. We are encouraged by our progress in 2014 and optimistic about our future growth opportunities across our Commercial and Government segments,” said Swedish.