In August 2017, Care N’ Care of North Carolina, Inc. d/b/a HealthTeam Advantage (“HTA”), a North Carolina-based Medicare Advantage (“MA”) plan and a subsidiary of Cone Health, redeemed the 20% interest in HTA that was held by Care N’ Care Insurance Company of Texas, Inc.(“CNC”), a subsidiary of NTSP Holding Company, LLC (“NTSP”).
Duff & Phelps served as the exclusive financial advisor to Care N’ Care Insurance Company of Texas, Inc. and NTSP Holding Company, LLC.
CNC was formed in 2008 when NTSP created its own doctor-directed MA plan and serves approximately 11,000 MA members in the Dallas-Fort Worth market. With both PPO and HMO health plans, the company works closely with local seniors to make sure that they understand all of their Medicare options and that they choose the health plan that best fits their health and lifestyle needs.
Conducting business as HealthTeam Advantage, Care N’ Care Insurance Company of North Carolina, Inc. is a wholly-owned subsidiary of Cone Health and serves approximately 14,000 MA members in the Piedmont Triad area of North Carolina. HTA was created in 2015 when CNC formed a 20/80 joint venture with Cone Heath. HTA began operations in 2016.
About Cone Health
Cone Health is an integrated not-for-profit network of healthcare providers serving several North Carolina counties. It has more than 100 locations, including six hospitals, three ambulatory care centers, three outpatient surgery centers, four urgent care centers, a retirement community, and more than 100 physician practice sites. Cone Health is headquartered in Greensboro, NC.