Collaboration will leverage the strengths of
three care provider entities that will come together to deliver
value to consumers and employers across the healthcare journey
Elevance Health, Inc. (NYSE: ELV) and Clayton, Dubilier &
Rice (CD&R) announced an agreement to form a strategic
partnership to accelerate innovation in primary care delivery,
enhance the healthcare experience, and improve health outcomes.
This effort, which will operate across multiple regions of the
United States, will bring together certain care delivery and
enablement assets of Elevance Health’s Carelon Health and CD&R
portfolio companies, apree health and Millennium Physician Group
(MPG).
“CD&R’s collaboration with Elevance Health is an important
step in our ongoing investment focus to accelerate innovation in
care delivery across the country,” said Clay Richards, CD&R
Operating Partner. “We are excited to enter into this strategic
partnership with Elevance Health and for what this effort can
accomplish, drawing out the strengths of each of the three
companies to improve the patient and physician experience for the
communities they serve.”
The strategic partnership’s advanced primary care models take a
whole health approach to address the physical, social, and
behavioral health of every person. The foundation of the new
advanced primary care offering will be stronger patient-provider
relationships supported by data-driven insights, care coordination
and referral management, and integrated health coaching. It will
also leverage realigned incentives through value-based care
agreements that enable care providers, assist individuals in
leading healthier lives, and make care more affordable.
“We know that when primary care providers are resourced and
empowered, they guide consumers through some of life’s most
vulnerable moments, while helping people to take control of their
own health,” said Bryony Winn, President of Health Solutions at
Elevance Health. “By bringing a new model of advanced primary care
to markets across the country, our partnership with CD&R will
create a win-win for consumers and care providers alike.”
This strategic partnership marks the next step in Elevance
Health’s journey to expand access to advanced primary care for
consumers with coverage across Commercial, Individual Exchange,
Medicaid, and Medicare health plans. Upon its formation, the
payer-agnostic platform will serve nearly one million consumers.
apree health, Carelon Health, and MPG offer unique strengths that
together promise to improve individuals’ health and wellbeing,
while helping care providers deliver higher quality care.
- apree health offers best-in-class digital navigation and
clinical advocacy capabilities with advanced primary care to
deliver better care outcomes and a unique patient experience while
driving affordability;
- Carelon Health has 30 clinics that will support the strategic
partnership’s ability to provide healthcare to high-risk members,
including individuals with complex and chronic conditions; and
- MPG is a leading primary care centric platform serving nearly
900 healthcare providers across multiple states.
Through this strategic partnership, people will have access to
integrated care teams, personalized navigation, expanded digital
access, and specialized services for higher need populations.
Employers will have an even stronger care provider service that
delivers affordability and superior experiences for their
employees, including dedicated primary care capacity integrated
with clinical and benefits navigation.
Our investment will primarily be through a combination of cash
and our equity interest in certain care delivery and enablement
assets of Carelon Health, and is subject to customary regulatory
approvals. While we are not disclosing terms of the strategic
partnership, it will not have a material impact on Elevance
Health’s 2024 financial results.
About Elevance Health, Inc.
Elevance Health is a lifetime, trusted health partner fueled by
its purpose to improve the health of humanity. The company supports
consumers, families, and communities across the entire care journey
– connecting them to the care, support, and resources they need to
lead healthier lives. Elevance Health’s companies serve more than
115 million consumers through a diverse portfolio of
industry-leading medical, digital, pharmacy, behavioral, clinical,
and complex care solutions. For more information, please visit
www.elevancehealth.com or follow us @ElevanceHealth on X and
Elevance Health on LinkedIn.
About Clayton, Dubilier & Rice
Founded in 1978, Clayton, Dubilier & Rice (CD&R) is a
leading private investment firm with a strategy of generating
strong investment returns by building stronger and more sustainable
businesses through the combination of skilled investment experience
and deep operating capabilities. In partnership with the management
teams of its portfolio companies, CD&R takes a long-term view
of value creation and emphasizes positive stewardship and impact.
The firm invests in businesses that span a broad range of
industries, including industrial, healthcare, consumer, technology
and financial services end markets. CD&R is privately owned by
its partners and has offices in New York and London. For more
information, please visit www.cdr-inc.com and follow the firm's
activities through LinkedIn and @CDRBuilds on X/Twitter.
Forward-Looking Statements
This document contains certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements reflect our views about future
events and financial performance and are generally not historical
facts. Words such as “expect,” “feel,” “believe,” “will,” “may,”
“should,” “anticipate,” “intend,” “estimate,” “project,”
“forecast,” “plan” and similar expressions are intended to identify
forward-looking statements. These statements include, but are not
limited to: financial projections and estimates and their
underlying assumptions; statements regarding plans, objectives and
expectations with respect to future operations, products and
services; and statements regarding future performance. Such
statements are subject to certain risks and uncertainties, many of
which are difficult to predict and generally beyond our control,
that could cause actual results to differ materially from those
expressed in, or implied or projected by, the forward-looking
statements. You are cautioned not to place undue reliance on these
forward-looking statements that speak only as of the date hereof.
You are also urged to carefully review and consider the various
risks and other disclosures discussed in our reports filed with the
U.S. Securities and Exchange Commission from time to time, which
attempt to advise interested parties of the factors that affect our
business. Except to the extent required by law, we do not undertake
to update or revise any forward-looking statements to reflect
events or circumstances occurring after the date hereof. These
risks and uncertainties include, but are not limited to: trends in
healthcare costs and utilization rates; reduced enrollment; our
ability to secure and implement sufficient premium rates; the
impact of large scale medical emergencies, such as public health
epidemics and pandemics, including COVID-19, and other
catastrophes; the impact of new or changes in existing federal,
state and international laws or regulations, including healthcare
laws and regulations, or their enforcement or application; the
impact of cyber-attacks or other privacy or data security incidents
or breaches or our failure to comply with any privacy or security
laws or regulations, including any investigations, claims or
litigation related thereto; information technology disruptions;
changes in economic and market conditions, as well as regulations
that may negatively affect our liquidity and investment portfolios;
competitive pressures and our ability to adapt to changes in the
industry and develop and implement strategic growth opportunities;
risks and uncertainties regarding Medicare and Medicaid programs,
including those related to non-compliance with the complex
regulations imposed thereon; our ability to maintain and achieve
improvement in Centers for Medicare and Medicaid Services Star
ratings and other quality scores and funding risks with respect to
revenue received from participation therein; a negative change in
our healthcare product mix; costs and other liabilities associated
with litigation, government investigations, audits or reviews; our
ability to contract with providers on cost-effective and
competitive terms; failure to effectively maintain and modernize
our information systems; risks associated with providing pharmacy,
healthcare and other diversified products and services, including
medical malpractice or professional liability claims and
non-compliance by any party with the pharmacy services agreement
between us and CaremarkPCS Health, L.L.C.; risks associated with
mergers, acquisitions, joint ventures and strategic alliances;
possible impairment of the value of our intangible assets if future
results do not adequately support goodwill and other intangible
assets; possible restrictions in the payment of dividends from our
subsidiaries and increases in required minimum levels of capital;
our ability to repurchase shares of our common stock and pay
dividends on our common stock due to the adequacy of our cash flow
and earnings and other considerations; the potential negative
effect from our substantial amount of outstanding indebtedness and
the risk that increased interest rates or market volatility could
impact our access to or further increase the cost of financing; a
downgrade in our financial strength ratings; the effects of any
negative publicity related to the health benefits industry in
general or us in particular; events that may negatively affect our
licenses with the Blue Cross and Blue Shield Association; intense
competition to attract and retain employees; risks associated with
our international operations; and various laws and provisions in
our governing documents that may prevent or discourage takeovers
and business combinations.
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version on businesswire.com: https://www.businesswire.com/news/home/20240414119390/en/
Media Relations for Elevance Health: Leslie Porras
Leslie.Porras@elevancehealth.com Investor Relations for Elevance
Health: Stephen Tanal Investor.Relations@elevancehealth.com
Media Relations for CD&R: Jon Selib
jselib@cdr-inc.com
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