Blue Cross and Blue Shield of Michigan says it and an affiliate may acquire M-CARE.

Michigan Blue, Detroit, is an independent, nonprofit health carrier.

M-CARE, Ann Arbor, Mich., is an arm of the University of Michigan Health System.

The University of Michigan board of regents will review the proposed deal Sept. 22, Michigan Blue says.

The deal also is subject to approval by other state and federal regulators.

Michigan Blue and the University of Michigan plan to start a joint venture that would promote improvements in the health of the organizations’ health plan members and of Michigan residents, Michigan Blue says.

Michigan Blue notes that it is unclear how many M-CARE employees it would retain if the deal is completed.