SANTA MONICA, Calif.—Blue Shield of California has reached an exclusive agreement with a company founded by billionaire Dr. Patrick Soon-Shiong to provide information technology services for a newly created accountable care organization. The ACO will include Access Medical Group, an independent physician association in Marina del Rey, Calif., and St. John's Health Center, Santa Monica, according to a news release.

Soon-Shiong's company, NantWorks, launched in September 2011 and markets remote monitoring devices, encryption technology, broadband telecommunication services and genomic sequencing technology. Soon-Shiong ranked No. 12 on Modern Healthcare and Modern Physician's list of the 50 Most Powerful Physician Executives in 2010. Paul Markovich, Blue Shield of California's president and chief operating officer, said he believes the IT contract will help the insurer expand its accountable care efforts.