Cambia Health Solutions and Blue Cross and Blue Shield of North Carolina say they will be uniting through a deal that is not an acquisition.
North Carolina Blue will operate under the Cambia Health Solutions name, and Cambia will manage many administrative services and other corporate services for North Carolina Blue, the companies announced Tuesday.
(Related: Judge Rejects North Carolina Blue’s $130M ACA Program Claim)
But each company will keep its current main offices, and each will keep its own corporate structure, its own board of trustees, its own revenue streams, and its own capital and assets, the companies say.
Mark Ganz, Cambia’s president, will serve as the executive chair of the combined organization, the companies say.
Patrick Conway, the chief executive officer of North Carolina Blue, will become the CEO of Cambia, and he will continue to be North Carolina Blue’s CEO, the companies say.
“The goal of the affiliation is to improve quality, lower costs, and deliver an exceptional experience for consumers,” the companies say.