Chris Hendrickson, Managing Director in Ziegler’s Healthcare Corporate Finance practice, stated, “CareFirst CHPDC has a mission of maximizing access to high quality, cost effective healthcare to those within its community….
November 13, 2020
Ziegler, a specialty investment bank, is pleased to announce its role in advising CareFirst BlueCross BlueShield (CareFirst) in the acquisition of Trusted Health Plan (District of Columbia), Inc. (Trusted). CareFirst has created a community focused health plan, CareFirst BlueCross BlueShield Community Health Plan District of Columbia (CareFirst CHPDC), to locally manage this plan and support the Medicaid population in Washington, D.C. CareFirst CHPDC operates as a Medicaid managed care organization, serving over 38,000 enrollees exclusively in Washington, D.C. and operating Wellness Centers providing enrollees with access to face-to-face health education, case management and nutritional counseling.
CareFirst purchased Trusted earlier this year and announced the new plan name of CareFirst CHPDC. CareFirst CHPDC serves its enrollees with a mission to help the District’s neighbors receive the care and services needed to lead a long and healthy life. Enrollees currently with CareFirst CHPDC will continue to receive healthcare coverage.
George Aloth, former Chief Operating Officer of Trusted was named President and Chief Executive Officer of CareFirst CHPDC in January and has been with the plan since 2014. “Continuing to participate in the District’s Medicaid program, while leveraging our high-touch model of care and newly deepened experience in managing care for high acuity populations, provides us with an opportunity to help make the District of Columbia a healthier city. We look forward to improving health outcomes for District residents and helping to proactively advance their well-being,” said Aloth.
Chris Hendrickson, Managing Director in Ziegler’s Healthcare Corporate Finance practice, stated, “CareFirst CHPDC has a mission of maximizing access to high quality, cost effective healthcare to those within its community. The innovative approach Trusted historically brought to care management and its wellness programs gave it a well-earned reputation within DC and made it a great fit for CareFirst CHPDC and its mission.”
Ziegler’s Corporate Finance team is focused on delivering best-in-class advisory and financing solutions for companies and organizations across the healthcare industry. In our core practice areas of healthcare services, information technology, hospitals and senior living, Ziegler is one of the most active M&A firms offering innovative sell-side, buy-side, recapitalization/restructuring, equity private placement and strategic partnering services.
For more information about Ziegler, please visit us at http://www.ziegler.com.
Ziegler is a privately held investment bank, capital markets and proprietary investments firm. Specializing in the healthcare, senior living and education sectors, as well as general municipal and structured finance, enables Ziegler to generate a positive impact on the clients and communities it serves. Headquartered in Chicago with regional and branch offices throughout the United States, Ziegler provides its clients with capital raising, strategic advisory services, equity and fixed income sales & trading and research. To learn more, visit http://www.ziegler.com.
Certain comments in this news release represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. This client’s experience may not be representative of the experience of other clients, nor is it indicative of future performance or success. The forward-looking statements are subject to a number of risks and uncertainties, in particular, the overall financial health of the securities industry, the strength of the healthcare sector of the U.S. economy and the municipal securities marketplace, the ability of the Company to underwrite and distribute securities, the market value of mutual fund portfolios and separate account portfolios advised by the Company, the volume of sales by its retail brokers, the outcome of pending litigation, and the ability to attract and retain qualified employees.
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