US-based Wellvana has acquired CVS Accountable Care’s Medicare Shared Savings Program (MSSP) business to support primary care providers in 40 states, serving approximately one million patients.
CVS Accountable Care is part of CVS Health, which will obtain a strategic minority stake in Wellvana through this all-stock transaction.
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Wellvana president and CEO Kyle Wailes said: “Primary care is the engine that reduces cost while improving the health of our communities, and we’re on a mission to make it life-changing.
“Our high-touch approach that supports physicians, health systems and payors in value-based care has proven effective. The complementary expertise and scale of CVS Health’s MSSP business supercharges our impact and accelerates our drive to make patients the ultimate beneficiaries of more valuable care.”
The acquisition of CVS Health’s MSSP business enhances Wellvana’s abilities by expanding its accountable care organisation (ACO), broadening its network of affiliated hospitals and physicians, and incorporating experienced colleagues and advanced technology from CVS Health.
CVS Health continues to advance its efforts through its owned care delivery assets, MinuteClinic and Oak Street Health.
In addition, CVS Health company Aetna maintains accountable care contracts with providers in its network.
Physicians participating in Wellvana’s network through this acquisition will benefit from access to high-touch tools such as administrative support, scheduling, and education on value-based care.
These physicians may also qualify for Foundational Care services, which offer essential medical management support during the critical periods between appointments and after hospital stays.
CVS Health’s health care delivery president Sree Chaguturu said: “We made this decision to further advance MSSP by partnering with a value-based care leader with the right strategic focus and investment commitment in this space.”
The companies have not disclosed the detailed terms of the transaction.
