WOONSOCKET (dpa-AFX) - Wellvana has acquired the Medicare Shared Savings Program or MSSP business of CVS Accountable Care in an all-stock transaction, making CVS Health Corporation (CVS) a strategic minority investor in Wellvana. This acquisition positions Wellvana as one of the largest value-based care enablement companies, now supporting healthcare providers in 40 states and serving around 1 million Medicare patients.
The transaction expands Wellvana's capabilities by strengthening its Accountable Care Organization or ACO presence, growing its hospital and physician network, and integrating experienced talent and technology from CVS Health's MSSP business. Over the past decade, the combined company has contributed hundreds of millions of dollars in Medicare savings.
CVS Health continues its commitment to value-based care through its existing care delivery assets, including Oak Street Health and MinuteClinic, as well as accountable care contracts between Aetna and its provider network. The company chose to transition its MSSP business to Wellvana to align with a specialized leader in value-based care.
Physicians joining Wellvana through this acquisition will have access to tools for scheduling, administrative support, and value-based care education. Over time, they may also qualify for Wellvana's Foundational Care program, which offers medical management support between appointments and post-hospitalization.
The financial terms of the deal were not disclosed.
CVS is currently trading at $64.91 or 0.02% higher on the NYSE.
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