Elevance Health, the parent company of Blue Cross and Blue Shield health insurance plans in 14 states, has recently partnered with private equity firm Clayton, Dubilier & Rice to improve primary care delivery. The financial terms of the deal were not disclosed, and company executives have remained silent beyond a press release issued on Monday.
The collaboration between Elevance Health and Clayton, Dubilier & Rice aims to combine certain care delivery and enablement assets of Elevance Health’s Carelon Health and Clayton, Dubilier & Rice’s portfolio companies, apree health and Millennium Physician Group (MPG). This initiative will operate in multiple regions of the United States to bring advanced primary care services to high-risk individuals with complex and chronic conditions.
Elevance Health’s investment comes at a time when rival companies like UnitedHealth Group and CVS Health have been heavily investing in owning and managing primary care services including doctor-staffed clinics and outpatient centers. Elevance Health’s Carelon healthcare services unit already operates 30 clinics that will support the strategic partnership in offering healthcare services to individuals with diverse health plan coverage.
The strategic partnership between Elevance Health and Clayton, Dubilier & Rice signifies a crucial step in expanding access to advanced primary care for consumers across various health plans including Commercial, Individual Exchange, Medicaid, and Medicare. The newly formed platform, serving nearly one million consumers, aims to improve individuals’ health and wellbeing by leveraging the unique strengths of apree health, Carelon Health, and MPG to enhance care delivery and quality.
