Blue Cross and Blue Shield of Louisiana and Vantage Holdings, Inc., the parent company of Vantage Health Plan and its subsidiaries , have signed definitive agreements under which Blue Cross will acquire majority ownership of Vantage following approvals from state and federal regulators, and formal approval by Vantage shareholders.
“We believe this transaction will allow both companies to strategically grow more effectively, and for Vantage to expand in more markets outside of Louisiana,” said Dr. Gary Jones, Vantage CEO. “And over time, we hope to be able to add more jobs in Monroe, where Vantage will continue to be headquartered.”
Following the transaction close, Vantage will continue to be run as a separate company by the existing management team, and Blue Cross and Vantage will retain their own corporate and product brands. Vantage CEO Dr. Gary Jones will continue to report to the Vantage Board of Directors, which will be comprised of a majority of Blue Cross representatives.
Pending regulatory and shareholder approvals, the transaction is expected to close by the end of the year.