Elevance Health, the parent of Blue Cross and Blue Shield health insurance plans in 14 states, has ... [+]
Elevance Health, the parent of Blue Cross and Blue Shield health insurance plans in 14 states, has signed a deal with the private equity firm Clayton, Dubilier & Rice to “advance primary care delivery.”
Neither Elevance Health nor Clayton, Dubilier & Rice executives would provide further comment beyond a Monday morning press release. Financial terms of what the companies involved described as the forming of a “strategic partnership” weren’t disclosed.
“This effort, which will operate across multiple regions of the United States, will bring together certain care delivery and enablement assets of Elevance Health’s Carelon Health and (Clayton, Dubilier & Rice) portfolio companies, apree health and Millennium Physician Group (MPG),” the companies said in a press release Monday.
The investment comes at a time Elevance Health rivals, including UnitedHealth Group, which owns the health insurer UnitedHealthcare, and CVS Health, which owns the health insurance company Aetna, have invested billions of dollars in recent years owning and managing primary care services that include doctor-staffed clinics and other outpatient centers.
In this case, Elevance Health’s Carelon healthcare services unit “has 30 clinics that will support the strategic partnership’s ability to provide healthcare to high-risk members, including individuals with complex and chronic conditions,” the companies said in their statement.
“This strategic partnership marks the next step in Elevance Health’s journey to expand access to advanced primary care for consumers with coverage across commercial, individual exchange, Medicaid, and Medicare health plans,” Elevance Health and its private equity partner said in a statement. “Upon its formation, the payer-agnostic platform will serve nearly one million consumers. apree health, Carelon Health, and MPG offer unique strengths that together promise to improve individuals’ health and wellbeing, while helping care providers deliver higher quality care.”
