Becker's Healthcare June 24, 2019
Minneapolis-based North Memorial Health and Blue Cross and Blue Shield of Minnesota signed a joint venture agreement to become shared owners of North Memorial’s clinics.
Under the joint venture, announced June 24, BCBS’ parent company, Stella, will purchase a 49 percent ownership in North Memorial’s 20 clinics. North Memorial will retain 51 percent ownership of the joint venture.
The transaction, which will be implemented in 2020, was spearheaded by the physician CEOs of both organizations: BCBS of Minnesota’s Craig Samitt, MD, and North Memorial’s J. Kevin Croston, MD.
“Healthcare costs too much, and it is too often difficult for people to understand and navigate. With this joint venture, we’re removing confusion from the equation,” Dr. Samitt said in...
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