Tie-up brings together health-care players with combined $16 billion in revenue, covering over six million people.
Cambia Health Solutions and Blue Cross and Blue Shield of North Carolina will merge their managements in a combined structure that will retain the Cambia name. The two not-for-profits said they aim to bolster their investments and speed progress in developing new health-data approaches and consumer tools, among other areas.
The move will draw close national attention because both are members of the Blue Cross Blue Shield group of insurers, which includes 36 companies. Collectively, the Blue insurers are a unique and powerful force in the industry, covering more than 100 million Americans, with deep local market share and a key role in the Affordable Care Act marketplaces. But in recent years the Blue insurers have largely sidestepped industry consolidation that created massive national players, with many remaining independent firms focused on just one state.