Novant Health has sold its stake in Medicare Advantage company HealthTeam Advantage back to Cone Health.
Cone Health — which launched HealthTeam Advantage in 2015 — is now the full owner of the Medicare Advantage carrier, the Greensboro, North Carolina-based health system said in a Tuesday news release. Cone Health declined to provide financial details of the deal.
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Winston-Salem, North Carolina-headquartered Novant Health acquired a minority interest in HealthTeam Advantage in 2022 with the goal of growing its membership and provider network.
HealthTeam Advantage covers more than 22,000 members across six Medicare Advantage plans, according to Cone Health.
In December, Cone Health was acquired by Risant Health, a nonprofit organization launched by Kaiser Permanente.
