Business

Talks of possible merger of Blue Cross, Cambia officially end

Posted October 12, 2019 11:21 a.m. EDT
Updated October 12, 2019 6:18 p.m. EDT

— Blue Cross Blue Shield of North Carolina and Cambia Health Solutions have "ended their pursuit" of a merger, the companies announced Friday.

Had the merger gone through, Cambia and Blue Cross would have entered into a long-term management services agreement. The companies had agreed to share management, administrative, operational and other corporate services under the name of Cambia Health Solutions, based in Oregon.

The announcement comes days after Dr. Patrick Conway, former CEO of Blue Cross, was found guilty of impaired driving and child abuse stemming from a June arrest on Interstate 85.

Conway resigned as CEO on Sept. 25.

The company's board urged his resignation after video of his black Cadillac Escalade was seen swerving on I-85 in Randolph County. His two young daughters were in the SUV at the time.

On Sept. 27, days after Conway's resignation, Cambia and Blue Cross announced the merger plan was on hold.

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