Nashville-based Wellvana has acquired the Medicare Shared Financial savings Program (MSSP) enterprise of CVS Accountable Care, a part of CVS Well being, in an all-stock transaction, giving CVS Well being a strategic minority funding in Wellvana.
As well as, Fierce Healthcare stories that CVS Well being is shutting down its ACO REACH enterprise, impacting 183 staff nationwide.
With the acquisition, Wellvana says it turns into one of many largest value-based care enablement firms, supporting suppliers in 40 states and serving roughly 1 million Medicare sufferers.
“Main care is the engine that reduces value whereas bettering the well being of our communities, and we’re on a mission to make it life-changing,” mentioned Kyle Wailes, Wellvana President and CEO, in an announcement. “Our high-touch method that helps physicians, well being programs and payers in value-based care has confirmed efficient. The complementary experience and scale of CVS Well being’s MSSP enterprise supercharges our affect and accelerates our drive to make sufferers the final word beneficiaries of extra invaluable care.”
Wellvana mentioned the acquisition strengthens its capabilities by increasing and diversifying its ACO presence, broadening its affiliated hospital and doctor community, and including colleague expertise with deep value-based care expertise and know-how from CVS Well being’s MSSP enterprise.
CVS Well being acknowledged that it stays dedicated to value-based care and is advancing ongoing efforts by way of its owned care supply belongings — Oak Avenue Well being and MinuteClinic — and likewise by way of accountable care contracts between Aetna and suppliers in its community.
“We made this determination to additional advance MSSP by partnering with a value-based care chief with the best strategic focus and funding dedication on this area,” mentioned Sree Chaguturu, M.D., president of healthcare supply for CVS Well being, in an announcement. “We’re extremely pleased with our CVS Well being colleagues who’ve supported the MSSP enterprise through the years and are dedicated to a easy transition to allow them to proceed their work and preserve providers to shoppers, suppliers and sufferers.”
Detailed phrases of the deal weren’t disclosed.
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