Sale of Arise Health Ventures to Aspirus is completed
MADISON, Wis.—March 20, 2019—WPS Health Solutions has completed the sale of its equity interest in Arise Health Ventures (AHV) to Aspirus.
AHV was created in 2016 as a joint venture between Aspirus and WPS. It is the parent company of Aspirus Arise Health Plan of Wisconsin, Inc., which began operations in north-central Wisconsin in 2017.
The Wisconsin Office of the Commissioner of Insurance approved the transaction at a public hearing on March 15 and the sale was finalized on March 19.
WPS proposed the sale to avoid a potential conflict of interest with its federal contracts.
WPS is contracted to provide key administrative functions for Aspirus Arise, including claims payment, customer service, billing and enrollment, rating, underwriting, finance, marketing, and sales support.
Aspirus is a non-profit, community-directed health system based in Wausau. With more than 7,700 employees, Aspirus serves communities throughout northern and central Wisconsin, as well as the western Upper Peninsula of Michigan.