Privia Health and Novant Health Enterprises Form Strategic Partnership
Privia Health (Nasdaq: PRVA) announces a strategic partnership with Novant Health Enterprises to establish Privia Medical Group – North Carolina. This venture aims to enhance support for independent providers and facilitate a transition to value-based care through a clinically integrated network (CIN) model. The partnership emphasizes the optimization of practice operations and improved patient care experiences using Privia's innovative platform. New providers will benefit from technology solutions that alleviate administrative burdens and enhance collaboration in patient care.
- Formation of a joint venture with Novant Health Enterprises to enhance community healthcare support.
- Introduction of a clinically integrated network model to facilitate value-based care.
- Access to Privia's technology and analytics platform for new providers, improving operational efficiency.
- None.
ARLINGTON, Va. and WINSTON-SALEM, N.C., Nov. 03, 2022 (GLOBE NEWSWIRE) -- Privia Health (Nasdaq: PRVA) today announced a joint venture and strategic partnership with Novant Health Enterprises, a division of Novant Health, a nationally recognized not-for-profit health system, to launch Privia Medical Group – North Carolina to bring support and resources to independent providers throughout the state. This joint venture is expected to support the transition to value-based care through a clinically integrated network (CIN) model, providing a new alternative for community physicians and provider groups.
“The Novant Health Medical Group has set the standard for unparalleled patient experience paired with high quality, affordable health care for our patients,” said Carl S. Armato, president and CEO of Novant Health. “Our partnership with Privia Health is the next evolution of our commitment, expanding on our value-based approach to population health through a top-tier independent primary care network across North Carolina and beyond. Novant Health is committed to providing options that best meet the needs of our physician partners.”
Privia Health CEO Shawn Morris added, “We are excited to align with Novant Health Enterprises as a strategic partner in their long-term independent provider strategy across North Carolina. We look forward to working in partnership with Novant Health Enterprises to leverage the capabilities of our Privia Platform and physician-led organizational structure. This will provide the technology, analytics and services expertise to optimize practice operations, enhance physician wellbeing, and offer more time for physicians to care for and deliver an ideal patient experience.”
New providers joining Privia Medical Group – North Carolina will have access to the Privia Platform, including a breadth of interoperable solutions and population health expertise to reduce administrative burden, enable care insights and collaboration.
About Novant Health
Novant Health is an integrated network of hospitals, physician clinics and outpatient facilities that delivers a seamless and convenient healthcare experience to communities in North Carolina, South Carolina, and Georgia. The Novant Health network consists of more than 1,800 physicians and over 35,000 team members who provide care at more than 800 locations, including 15 hospitals and hundreds of outpatient facilities and physician clinics. In 2021, Novant Health provided more than
About Privia Health
Privia Health™ is a technology-driven, national physician enablement company that collaborates with medical groups, health plans, and health systems to optimize physician practices, improve patient experiences, and reward doctors for delivering high-value care in both in-person and virtual settings. Our platform is led by top industry talent and exceptional physician leadership, and consists of scalable operations and end-to-end, cloud-based technology that reduces unnecessary healthcare costs, achieves better outcomes, and improves the health of patients and the well-being of providers. For more information, visit priviahealth.com.
Safe Harbor Statement
This release may contain forward-looking statements within the meaning of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the joint venture partnership with Novant Health and the terms and benefits of the agreements. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, the inability to finalize a definitive partnership agreement, the parties’ inability to realize all of the anticipated benefits of any agreement and those factors described in filings with the Securities and Exchange Commission (“SEC”), including those under “Risk Factors” therein. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date made. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Contact
Robert P. Borchert
SVP, Investor & Corporate Communications
IR@priviahealth.com
817.783.4841
Samantha Williams
Director of Public Relations-Institutes & Markets
sswilliams@novanthealth.org
336-528-9089
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