Steward Health Care System has Agreed to Sell Steward Health Choice Arizona to Blue Cross Blue Shield of Arizona

November 11, 2019

Cain Brothers, a division of KeyBanc Capital Markets (“Cain Brothers”), served as financial advisor to Steward Health Care System, LLC in the pending sale of Steward Health Choice Arizona to Blue Cross Blue Shield of Arizona.

Steward Health Choice Arizona provides services to more than 200,000 Medicaid and dual eligible members and is committed to a collaborative approach with physicians, hospitals, and all other providers in the medical communities of Apache, Coconino, Maricopa, Mohave, Navajo, Gila, Yavapai, and Pinal counties.

Steward Health Care System, LLC is the largest private, tax-paying physician-led health care network in the United States. Headquartered in Dallas, Texas, Steward operates 37 hospitals in the United States and the country of Malta that regularly receive top awards for quality and safety. The company employs approximately 42,000 health care professionals. The Steward network includes multiple urgent care centers and skilled nursing facilities, substantial behavioral health services, over 7,900 beds under management, and approximately 2.2 million full risk covered lives through the company’s managed care and health insurance services.

Blue Cross Blue Shield of Arizona (BCBSAZ) is committed to helping Arizonans get healthier faster and stay healthier longer. With a focus on connecting people with the care they need, BCBSAZ offers health insurance and related services to more than 1.5 million customers. BCBSAZ, a not-for-profit company, is an independent licensee of the Blue Cross Blue Shield Association. The company employs more than 1,800 people in its Phoenix, Chandler, Flagstaff, and Tucson offices.

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