CVS Health Corp. is discontinuing its Wellesley-based accountable care business, and will lay off 183 employees as it shutters the business line.

CVS Health is on a mission to cut costs, and the insurer is turning toward its value-based care businesses as a solution, Fierce Healthcare has exclusively learned. | CVS is cutting loose from the ACO REACH value-based care program and is selling its Medicare Shared Savings Program business to Wellvana as the company looks to cut costs where possible.

CVS Health has sold its Medicare Shared Savings Program business to value-based care services firm Wellvana in an all-stock deal, the healthcare giant said Tuesday. With the purchase, Wellvana will become “one of the largest” value-based care support companies,

US-based Wellvana has acquired CVS Accountable Care’s Medicare Shared Savings Program (MSSP) business to support primary care providers in 40 states, serving approximately one million patients. CVS Accountable Care is part of CVS Health,

CVS Health divested its Medicare Shared Savings Program operations as the conglomerate seeks to stabilize its finances.

Wellvana and CVS Health® (NYSE: CVS) today announced that Wellvana has acquired the Medicare Shared Savings Program (MSSP) business of CVS Accountable Care™, part of CVS Health, in an all-stock transaction,