Elevance Health, which is the parent company of Blue Cross and Blue Shield Health insurance plans in 14 states, has formed a strategic partnership with private equity company Clayton, Dubilier & Rice (CD&R). The deal is expected to "advance primary care delivery" with stronger patient-provider relationships, care coordination and integrated health coaching.

The insurance giant and CD&R will bring together certain segments of Elevance's Carelon Health division and the PE firm's portfolio companies apree health and Millennium Physician Group, according to the announcement issued Monday. The new joint primary care model will seek to address each patient's physical, social and behavioral health through a whole-person approach, the partners said.

The strategic partnership's advanced primary care models take a whole health approach to address the physical, social, and behavioral health of every person. The foundation of the new advanced primary care offering will be stronger patient-provider relationships supported by data-driven insights, care coordination and referral management, and integrated health coaching. It will also leverage realigned incentives through value-based care agreements that enable care providers, assist individuals in leading healthier lives, and make care more affordable.