BLUE CROSS NC, CAMBIA HEALTH SOLUTIONS ANNOUNCE NEW STRATEGIC AFFILIATION
PORTLAND, Ore. and DURHAM, N.C., March 12, 2019 (GLOBE NEWSWIRE) — Cambia Health Solutions (Cambia) and Blue Cross and Blue Shield of North Carolina (Blue Cross NC) today announced a strategic affiliation between the two not-for-profit companies. The goal of the affiliation is to improve quality, lower costs, and deliver an exceptional experience for consumers.
“We have to do something different to make health care better, simpler, and more affordable for the people we serve,” said Dr. Patrick Conway, President and CEO of Blue Cross NC. “By sharing resources, innovations, and best-in-class services we can fundamentally transform the way individuals and families experience the health care system.”
“People and their families are hurting every day in the current health care system, longing for care focused on their needs,” said Mark Ganz, President and CEO of Cambia Health Solutions. “Together, we have the power to accelerate transformation, be a model for what is possible, and positively impact the lives of those we serve.”
Blue Cross NC and Cambia’s health plans, which include Regence BlueCross BlueShield of Oregon, Regence BlueShield in Washington, Regence BlueShield of Idaho, and Regence BlueCross BlueShield of Utah, will continue to be subject to all state regulations and requirements in their respective states, including rate review, to ensure consumer protection.
Two Not-For-Profits, One Shared Vision
The affiliation builds on the two companies’ shared values and cultures. Both are not-for-profits with a Blue Cross Blue Shield history. The affiliation also builds on the success of their existing relationship, Echo Health Ventures, launched in 2016. Echo Health Ventures invests in, builds, and grows tomorrow’s great health care companies.
Cambia is a total health solutions company with a 100-year legacy of transforming the industry and the way people experience health care. The company is a national leader for innovation, technology and digital experience for consumers.
Blue Cross NC has an 85-year history of offering high-quality health insurance at a competitive price. The company is a national leader in the transformation of health care through value-based payment models, in which the payer and provider share in the total cost and quality of care. Blue Cross NC has also demonstrated its commitment to North Carolina through its service to the individual market in all 100 counties and its recent award to serve the state’s Medicaid population.
Both Cambia and Blue Cross NC have a strong history and tradition of community investments and charitable support to their states, through the corporations and their foundations.
The Affiliation’s Structure
Cambia and Blue Cross NC will enter into a long-term management services agreement, adopting best-in-class services from both companies. Specifically, the companies have agreed to share management, administrative, operational, and other corporate services, under the Cambia Health Solutions name.
Cambia’s Board of Directors will be made up of 10 members from Blue Cross NC’s current Board of Trustees and nine members from Cambia’s current Board of Directors. Blue Cross NC will retain its own separate Board of Trustees and name. Blue Cross NC and Cambia will retain their separate, tax-paying, not-for-profit corporate structures.
As part of the affiliation, Ganz will serve as the new Executive Chair of Cambia’s Board of Directors, and Conway will serve as Cambia’s new CEO. Conway also will remain CEO of Blue Cross NC. Headquarters will be in Durham, NC, and Portland, OR.
The strategic affiliation also will maintain the separate health plans in five states, all locally led and regulated. Through the transition to the strategic affiliation, members, employers and providers will continue to receive the same high-quality service they have come to expect. The strategic affiliation is subject to regulatory approval in North Carolina, Oregon, Washington, Idaho, and Utah.
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About Cambia Health Solutions
Cambia Health Solutions, headquartered in Portland, Oregon, is a total health solutions company dedicated to transforming health care. We are a family of more than 20 companies that work together to make the health care system more economically sustainable and efficient for people and their families. Our company reaches more than 70 million Americans nationwide, including more than 2.6 million people in the Pacific Northwest who are enrolled in our regional health plans, which have served the region for more than 100 years. To learn more about us, visit CambiaHealth.com or Twitter.com/cambia.
About Blue Cross and Blue Shield of North Carolina
Blue Cross and Blue Shield of North Carolina improves the health and well-being of our customers and communities through innovative health care products, insurance services and information to more than 3.7 million members, including approximately 1 million served on behalf of other Blue Cross and/or Blue Shield plans. Since 1933, we have worked to make North Carolina a better place to live through our support of community organizations, programs and events that promote good health. Blue Cross NC is an independent licensee of the Blue Cross and Blue Shield Association. Visit Blue Cross NC online at bcbsnc.com or Twitter.com/BlueCrossNC. All other marks are the property of their respective owners.
Jared Ishkanian Cambia Health Solutions firstname.lastname@example.org Blue Cross and Blue Shield of North Carolina email@example.com