Blue Cross and Blue Shield of Vermont aims to join with Blue Cross Blue Shield of Michigan via a non-cash exchange in a deal the nonprofit companies contend will improve care and lower costs. Under the proposed agreement, the Michigan insurer will acquire the the Vermont company’s coveted Blue Cross and Blue Shield license, said Lynda Rossi, executive vice president of strategy, innovation and public affairs at Blue Cross Blue Shield of Michigan. “You’re going to see further consolidation in the market,” Rossi said. “The model that we jointly built with the Vermont plan is going to be very attractive within the Blues system.” Operationally, the deal resembles an acquisition except that no money will change hands.
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Source: https://www.modernhealthcare.com/mergers-acquisitions/blues-cross-bcbs-michigan-vermont-affiliation