Brown & Toland Physicians in Oakland, Calif., will join Blue Shield of California subsidiary Altais, the organizations said April 10.
Under a definitive agreement, Brown & Toland's 2,700 physicians will join Altais' clinical services unit. The organizations said combining will help improve outcomes and lower costs for patients.
Through the transaction, Brown & Toland Physicians will still operate under its brand and service all payers. The acquisition will bring more capital, services and support to the physician group, the organizations said, adding that Brown & Toland patients will see no care interruptions.
The boards of directors of Altais and Brown & Toland Physicians approved the agreement. The transaction is subject to approval by Brown & Toland shareholders and other regulatory reviews.