Elevance Health closed its deal with private equity group Clayton, Dubilier & Rice to form a primary care company, and named the venture Mosaic Health.
Mosaic Health will provide primary care services from Millennium Physician Group and digital health services from Apree Health, two businesses of Clayton, Dubilier.
Related: Elevance Health, CD&R to form primary care company
In April, Elevance said it would invest an unspecified amount of cash in the deal and the then-unnamed company would include its Carelon Health unit providing chronic condition care. However, Carelon's involvement is still pending regulatory approval.
A spokesperson for Clayton, Dubilier declined to comment on terms.
Clay Richards, operating partner at the private equity firm, was named to serve as Mosaic's executive chairman.
The companies will continue to operate independently as well.
