Novant Health set to buy stake in Medicare Advantage plan

Winston Salem, N.C.-based Novant Health has signed a letter of intent to own a portion of HealthTeam Advantage, a Medicare Advantage plan providing coverage to more than 15,000 Medicare beneficiaries in the state. 

HealthTeam Advantage is owned by Greensboro, N.C.-based Cone Health. Cone Health will maintain majority ownership, according to a news release emailed to Becker's on May 18.  

The agreement will allow HealthTeam Advantage to expand to more markets, Cone Health CEO Mary Jo Cagle, MD, said in the release. 

The deal is subject to customary regulatory reviews.

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