Both the companies would reportedly merge the administrative, operational, and corporate management services under the brand name Cambia Health Solutions

Insurance operators Blue Cross and Blue Shield of North Carolina have recently declared that they would be merging with the Oregon-headquartered insurer Cambia Health Solutions. As per trusted sources, the merger would combine two large Blue Cross and Blue Shield affiliated insurers.

Reportedly, both the firms have about USD 16 billion in total revenue and would together cover about six million people.

Both the companies, as part of the deal, would reportedly merge the administrative, operational, and corporate management services under the brand name Cambia Health Solutions. It is also being said that the agreement would bring more power to Patrick Conway, the Chief Executive Officer of Blue Cross NC.

According to a report by Associated Press News, that Conway would remain the CEO of Blue Cross NC and will also be appointed as the CEO of Cambia as per the agreement. For the record, Conway previously worked in administration at the Centers for Medicare and Medicaid Services and joined Blue Cross NC in 2017.

The Chief Executive of Cambia, Mark Ganz, would be appointed as the executive chairman of Cambia’s board of directors. The headquarters of the combined firms would be split between Portland and Durham. Oregon.

Conway was reportedly quoted saying that the company would have to do something different to make healthcare simpler, better, and more affordable for its customers. The company can fundamentally transform the way individuals and families experience healthcare system by sharing resources, innovations, and best-in-class services, Conway further added.

Spokesperson of Blue Cross NC, Austin Vevurka reportedly noted in an email that both the firms are consistently striving for ways to be more efficient while providing more value to its members and employer groups. The firms would share services which may cause some resources to shift, however, there will be no immediate changes until after regulatory approval in the initial process, Vevurka further added.