Selling Blue Cross Blue Shield of Louisiana is "completely off the table" for new CEO Bryan Camerlinck, Business Report reported Aug. 29.
In February, BCBS Louisiana tabled plans to be acquired by Elevance Health. The sale faced scrutiny from physicians and state officials.
Mr. Camerlinck was appointed CEO in May in the wake of the scrapped deal. He told Business Records there are no plans to pursue a sale under his watch.
"We're focused on Louisiana and we're focused on being independent," Mr. Camerlinck said. "We're going to work with our local providers, brokers and community members — which includes the Louisiana Legislature — to remain independent as long as we can."
The company has implemented a number of changes since Mr. Camerlinck assumed the CEO role, including rebranding as Louisiana Blue, appointing four new executives and introducing a new organizational structure.
Mr. Camerlinck told Business Report the company was concerned about headwinds, including the cost of compliance and cost of technology, when it pursued affiliating with Elevance.
The company is shifting its focus to invest more in Medicaid, Medicare and self-funded group insurance, growing markets in Louisiana, the CEO said.
"I think the transaction was more about headwinds than it was about current performance, Mr. Camerlinck said. "We're financially strong and we have very, very strong market share."
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