Wellvana announces MSSP business acquisition of CVS Health

Woonsocout (DPA-AFX) -Wellvana has purchased Medicare shared savings or MSSP activity of CVS’s responsible care in all stocks, making CVS Health Corporation (CVS) a minority strategic investor in Wellvana. This acquisition positions Wellvana as one of the largest value -based care companies, now supporting medical service providers from 40 states and serve around 1 million medical patients.

The transaction extends Wellvana capacities by strengthening its responsible care organization or the presence of ACO, increasing its hospital and doctor network and integrating talented and experienced technology from MSSP business of CVS Health. In the last decade, the combined company has contributed hundreds of millions of dollars to Medicare savings.

CVS Health continues its commitment to value -based care through its existing care assets, including Oak Street Health and Minute, as well as responsible care contracts between Aetna and the supplier network. The company has chosen to transpose its MSSP activity to Wellvan to align with a specialized leader in value based.

Doctors who join Wellvana through this acquisition will have access to tools for programming, administrative assistance and value -based care education. Over time, they can also be qualified for the fundamental care program Wellvana, which offers medical management support between appointments and post-hospitalization.

The financial conditions of the agreement have not been disclosed.

CVS is currently trading $ 64.91 or 0.02% higher on NYSE.