US-based Wellvana has acquired CVS Accountable Care’s Medicare Shared Savings Program (MSSP) business to support primary care providers in 40 states, serving approximately one million patients. CVS Accountable Care is part of CVS Health,

With this acquisition, Wellvana supports primary care providers across 40 states, serving approximately 1 million patients.

The all-stock deal gives CVS a strategic minority investment in value-based care services firm Wellvana. Shared Savings, or MSSP, is Medicare’s largest value-based care program.

CVS Health is on a mission to cut costs, and the insurer is turning toward its value-based care businesses as a solution, Fierce Healthcare has exclusively learned. | CVS is cutting loose from the ACO REACH value-based care program and is selling its Medicare Shared Savings Program business to Wellvana as the company looks to cut costs where possible.

CVS Health Corp. is discontinuing its Wellesley-based accountable care business, and will lay off 183 employees as it shutters the business line.

CVS Health divested its Medicare Shared Savings Program operations as the conglomerate seeks to stabilize its finances.

The Woonsocket-based CVS (NYSE: CVS) said Tuesday that by selling its MSSP affiliated with CVS Accountable Care, it gains a “strategic minority investment” in the Nashville-based Wellvana, which bills itself as one of the nation’s largest “value-based care enablement companies."

CVS Health is selling to Nashville-based Wellvana a business that helps physicians and health systems with certain "va;ue-based" Medicare contracts.