Wellvana acquires CVS Health's MSSP business

With latest transaction, Wellvana supports primary care providers across 40 states, serving approximately 1 million patients., /PRNewswire/ -- Wellvana and CVS Health® (NYSE: CVS) today announced that Wellvana has acquired the Medicare Shared Savings Program (MSSP) business of CVS Accountable Care™, part of CVS Health, in an all-stock transaction, giving CVS Health a strategic minority investment in Wellvana. With the acquisition, Wellvana cements itself as one of the largest value-based care enablement companies, supporting health care providers in 40 states and serving approximately 1 million Medicare patients. The combined company has delivered hundreds of millions of dollars in savings to the Medicare program over the past decade. "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," said Kyle Wailes, Wellvana President and CEO. "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." Wellvana's acquisition strengthens its capabilities by expanding and diversifying its Accountable Care Organization (ACO) presence, broadening its affiliated hospital and physician network, and adding colleague talent with deep value-based care experience and technology from CVS Health's MSSP business.CVS Health remains committed to value-based care and is advancing ongoing efforts through its owned care delivery assets – Oak Street Health® and MinuteClinic® – and also through accountable care contracts between Aetna and providers in its network. "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," said Sree Chaguturu, MD, President, Health Care Delivery, CVS Health. "We are incredibly proud of our CVS Health colleagues who have supported the MSSP business over the years and are committed to a smooth transition so they can continue their work and maintain services to clients, providers and patients."Physicians joining the Wellvana network as part of this acquisition will have the ability to gain access to high-touch tools such as scheduling, administrative support, and value-based care education. As physicians engage with Wellvana's services, in subsequent years they may also become eligible for Foundational Care™, which provides patients with critical medical management support between appointments and after hospitalizations.Detailed terms have not been disclosed.About WellvanaWellvana partners with primary care practices and health systems to make the transition from fee-for-service to value-based care life-changing for patients. With multiple ACOs in MSSP and REACH, as well as Medicare Advantage contracts from coast to coast, Wellvana matches partners with personalized paths that optimize their value-based care journey. Through its high-touch approach and Foundational Care™ management, Wellvana helps carry the administrative load of practices and health systems while providing between-appointment support for patients. Founded in 2018 and based in Nashville, Tenn., Wellvana works with primary care providers and health systems in 40 states, managing approximately one million lives across multiple payors. For more information, visit Wellvana.com and follow Wellvana on LinkedIn.About CVS HealthCVS Health® is the leading health solutions company, delivering care like no one else can. We reach more people and improve the health of communities across America through our local presence, digital channels and over 300,000 dedicated colleagues – including more than 40,000 physicians, pharmacists, nurses and nurse practitioners. Wherever and whenever people need us, we help them with their health – whether that's managing chronic diseases, staying compliant with their medications or accessing affordable health and wellness services in the most convenient ways. We help people navigate the health care system – and their personal health care – by improving access, lowering costs and being a trusted partner for every meaningful moment of health. And we do it all with heart, each and every day. Follow @CVSHealth on social media.Media Contacts:Blake Farmer[email protected]Ethan Slavin[email protected]SOURCE Wellvana WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Wellvana acquires CVS Health's MSSP business

FAQ

Why Bullish?

How important is it?

Why Long Term?

Related Companies

Related News