Nonprofit CareSource finalizes acquisition of Commonwealth Care Alliance
Nonprofit managed care organization CareSource has completed its acquisition of Commonwealth Care Alliance (CCA), a nonprofit healthcare services organization specializing in health plans and care delivery programs for individuals with complex healthcare needs.
Under the CareSource Family of Brands, CCA will continue to operate its Senior Care Options (SCO) and One Care plans, as well as its clinical delivery programs. Members and patients will receive ongoing care and coordination from their existing care teams and providers, with enhancements from CareSource’s capabilities.
The financial details of the acquisition have not been disclosed.
Impact of the Acquisition
CCA provides coverage for nearly 50,000 dual eligible Medicare and Medicaid beneficiaries in Massachusetts, many of whom have complex medical and behavioral health conditions. These individuals often face social determinants of health such as housing instability, food insecurity, and transportation challenges.
Additionally, CCA offers specialized primary care services to around 1,100 individuals through its clinics in Springfield and Boston, as well as a home-based primary care practice. The organization’s clinical programs include a respite care unit for members requiring crisis stabilization for acute behavioral health and substance use disorders.
By joining forces, CareSource and CCA aim to improve care coordination and access to support services for their members. The affiliation will enable the sharing of resources, expertise, and specialized programs to enhance the overall quality of care.
Transition and Future Plans
Following the acquisition, CCA employees will become part of the CareSource team. The organizations are actively collaborating to align cross-functional teams and integrate their operations seamlessly. As part of a planned transition, CCA President and CEO Chris Palmieri will be departing from the organization.
Industry Trends
This acquisition comes on the heels of CareSource’s purchase of Common Ground Healthcare Cooperative (CGHC) earlier this year. The collaboration between CareSource and CGHC aims to enhance services for members in Eastern Wisconsin by leveraging each organization’s strengths and operational expertise.
Jeff Lagasse is the editor of Healthcare Finance News. For inquiries, contact jlagasse@himss.org. Healthcare Finance News is a publication of HIMSS Media.
