CVS Health Sells MSSP Business to Wellvana
Nashville-based 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.
In addition, Fierce Healthcare reports that CVS Health is shutting down its ACO REACH business, impacting 183 employees nationwide.
With the acquisition, Wellvana says it becomes one of the largest value-based care enablement companies, supporting providers in 40 states and serving approximately 1 million Medicare patients.
“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, in a statement. “Our high-touch approach that supports physicians, health systems and payers 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 said the acquisition strengthens its capabilities by expanding and diversifying its 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 stated that it 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, M.D., president of healthcare delivery for CVS Health, in a statement. “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.”
Detailed terms of the deal were not disclosed.
