M&A Deal Summary

CareFirst BlueCross BlueShield Acquires University of Maryland Health Advantage

On November 27, 2020, CareFirst BlueCross BlueShield acquired healthcare services company University of Maryland Health Advantage

Acquisition Highlights
  • This is CareFirst BlueCross BlueShield’s 3rd transaction in the Healthcare Services sector.
  • This is CareFirst BlueCross BlueShield’s 3rd transaction in the United States.
  • This is CareFirst BlueCross BlueShield’s 2nd transaction in Maryland.

M&A Deal Summary
Date 2020-11-27
Target University of Maryland Health Advantage
Sector Healthcare Services
Buyer(s) CareFirst BlueCross BlueShield
Deal Type Add-on Acquisition

Target

University of Maryland Health Advantage

Timonium, Maryland, United States
University of Maryland Health Advantage provides healthcare services by promoting strong doctor-patient relationships connecting Maryland beneficiaries to a large local network of physicians and providers all in an effort to combine Medicare coverage with added benefits and services, and better care overall.

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Buyer(S) 1

Buyer

CareFirst BlueCross BlueShield

Baltimore, Maryland, United States
Category Company
Founded 1934
Sector Insurance
DESCRIPTION

CareFirst, an independent licensee of the Blue Cross and Blue Shield Association, is a not-for-profit health care company which, through its affiliates and subsidiaries, offers a comprehensive portfolio of health insurance products and administrative services to 3.2 million individuals and groups in Maryland, the District of Columbia and Northern Virginia. In 2018, CareFirst invested $38 million to improve overall health, and increase the accessibility, affordability, safety, and quality of health care throughout its market areas.

DEAL STATS #
Overall 3 of 3
Sector (Healthcare Services) 3 of 3
Type (Add-on Acquisition) 3 of 3
State (Maryland) 2 of 2
Country (United States) 3 of 3
Year (2020) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-27 University of Maryland Health Partners

Timonium, Maryland, United States

University of Maryland Health Partners (UMHP) is a Medicaid Managed Care Organization that offers a health plan that combines personal attention with world-class healthcare. Benefits include a large provider network and excellent customer service with the resources of one of America’s leading university medical systems. University of Maryland Health Partners was formed in 2011 and is based in Timonium, 21093, Maryland.

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