Elevance Health, a major healthcare insurance provider, has announced a new partnership with private equity firm Clayton, Dubilier & Rice (CD&R) to expand access to advanced primary care services across the United States, according to the announcement issued Monday. This collaboration aims to transform the primary care experience by focusing on a holistic approach to patient well-being.
The joint initiative will combine resources from various entities. Elevance Health will contribute segments of its Carelon Health division, which operates a network of 30 clinics. CD&R will bring its portfolio companies apree health and Millennium Physician Group (MPG) to the table. Apree health specializes in connecting healthcare providers with digital navigation and clinical advocacy services. MPG, on the other hand, is a primary care platform with a network of over 900 providers across multiple states.
By uniting these strengths, the partnership seeks to establish a new model of advanced primary care centered on the “whole person” concept. This approach goes beyond traditional medical treatment, encompassing the patient’s physical, social, and behavioral health needs. The ultimate goal, as emphasized by both companies, is to foster stronger patient-provider relationships. Additionally, the model aims to equip clinical teams with data analytics, care coordination tools, and health coaching support systems.
“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,” stated Bryony Winn, president of health solutions at Elevance Health, in the press release. “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.”
The combined program is expected to serve nearly one million individuals across Carelon, apree health, and MPG. The investment structure involves a combination of cash and Elevance’s existing equity interest in portions of Carelon Health, as detailed in the announcement. Specific financial details beyond this were not disclosed. Elevance Health also clarified that they do not anticipate this strategic partnership to significantly impact their 2024 financial performance.
Expressing enthusiasm for the collaboration, Clay Richards, CD&R operating partner, stated in the release, “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. 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.”
This partnership between Elevance Health and CD&R signifies a promising step towards improving access to comprehensive primary care services. By prioritizing a holistic approach and empowering both patients and providers, this initiative has the potential to reshape the landscape of primary care delivery in the United States.
