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.
