Elevance Health In Deal With Clayton And Dubilier & Rice To Advance Primary Care Delivery

(RTTNews) - Elevance Health, Inc. (ELV), a health benefits company, and Clayton, Dubilier & Rice or CD&R announced Monday an agreement to form a strategic partnership to accelerate innovation in primary care delivery.

Elevance Health said its investment will primarily be through a combination of cash and equity interest in certain care delivery and enablement assets of Carelon Health, and is subject to customary regulatory approvals.

The terms of the strategic partnership were not disclosed. Elevance Health said it will not have a material impact on its 2024 financial results.

The partnership will operate across multiple regions of the United States, and 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 or MPG.

apree health offers best-in-class digital navigation and clinical advocacy capabilities with advanced primary care. Carelon Health has 30 clinics that will support the strategic partnership's ability to provide healthcare to high-risk members; and MPG is a primary care centric platform serving nearly 900 healthcare providers across multiple states.

Upon its formation, the payer-agnostic platform will serve nearly one million consumers.

Through the strategic partnership, people will have access to integrated care teams, personalized navigation, expanded digital access, and specialized services for higher need populations.