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Deal linking Blue Cross NC, Cambia halts after CEO Resigns
DURHAM, N.C. (AP) — Two Blue Cross Blue Shield insurers on both U.S. coasts are scrapping plans for a long-term cooperation agreement after an executive central to the deal resigned in the wake of an alleged drunk-driving crash.
Blue Cross Blue Shield of North Carolina and Portland, Oregon-based Cambia Health Solutions said Friday they’re ending their request for regulatory approval.
The deal announced in March called for Blue Cross NC CEO Patrick Conway to also become Cambia’s CEO, but the companies planned to keep their assets and insurance policies separate.
Conway resigned Wednesday after details of his June 22 crash emerged describing the insurance executive deriding the investigating police officer. Conway was charged with driving while impaired and misdemeanor child abuse. Conway’s two daughters were in his car. No one was injured.