Acquisition ensures all North Carolinians, regardless of insurance type or carrier, have access to critical points of quality, affordable care
Durham, N.C. – Blue Cross and Blue Shield of North Carolina (Blue Cross NC) has acquired all North Carolina-based locations of FastMed and named Jim Moffett as FastMed’s CEO. The acquisition allows Blue Cross NC and FastMed, two North Carolina companies, to ensure access to quality, affordable care, especially in rural parts of the state where care can be limited. Any North Carolinian and those visiting the state, regardless of their health insurance or carrier, will have access to all FastMed locations.
“As I’ve traveled across North Carolina and listened, it is clear that access to basic primary care services is a critical need. With approximately half of FastMed’s clinics located in rural areas of our state with limited access to health care resources, I believe this is a vital investment in North Carolina,” said Tunde Sotunde, Blue Cross NC’s CEO. “Under the leadership of Jim Moffett, I am confident our two organizations, Blue Cross NC and FastMed, can realize our commitment to improving access to quality care for all North Carolinians.”
Access to Quality, Affordable Care in North Carolina
This acquisition builds on Blue Cross NC’s existing investments and longstanding commitment to making health care more affordable, accessible, and easier to navigate. FastMed, which provides a wide range of care options such as preventive, telehealth, occupational health, primary, and urgent care, will continue to be a critical resource in North Carolina communities, including those facing provider shortages.
Like other health care providers, FastMed has felt the impacts of provider shortages that were magnified by the COVID-19 pandemic. Between 2016-2021, North Carolina lost about 9% of its direct care workforce. As the health care industry continues to change rapidly, new partnerships and affiliations to improve patient health and lower health care costs are more commonplace. Blue Cross NC’s short-term plans for FastMed include returning to pre-pandemic service operations and investing in ways to further enhance the patient experience.
FastMed locations in North Carolina will continue serving all North Carolinians and those visiting the state regardless of their health insurance or carrier, not just Blue Cross NC members. Blue Cross NC members can search for in-network care locations through the Blue Connect portal.
Blue Cross NC has been a non-controlling minority investor in FastMed since 2012. FastMed will operate independently from Blue Cross NC, which is a fully taxed not-for-profit company headquartered in Durham, North Carolina.
About Jim Moffett, FastMed CEO
Jim Moffett joins FastMed after more than two decades in an executive capacity with various mission-driven and customer-focused organizations. He has a long and successful history of leading ambulatory practices, which include primary and urgent care businesses. Jim is well positioned to achieve our goals of expanding access to high-quality and affordable care for all North Carolinians.
Jim earned a Bachelor of Science in Industrial Engineering from Geneva College in Pennsylvania and an MBA from the University of Scranton.
About Blue Cross and Blue Shield of North Carolina:
Blue Cross NC, the leading not-for-profit health plan in North Carolina, is committed to making health care more affordable, easier to navigate and accessible for all. Since 1933, the health insurer has created programs and initiatives to provide North Carolinians the opportunity to be healthy. Blue Cross NC serves its customers and communities of more than 4.2 million members, including approximately 1.1 million on behalf of other Blue Plans. Blue Cross NC is an independent licensee of the Blue Cross and Blue Shield Association. Visit Blue Cross NC online at bluecrossnc.com. All other marks are the property of their respective owners.
About FastMed
FastMed is a leading provider of high-quality, convenient, affordable, and compassionate healthcare in 34 counties across North Carolina. FastMed serves both urban and rural communities across the state with a wide range of care options, including preventive, telemedicine, occupational health, and primary and urgent care. FastMed is one of the few urgent care providers in the nation that has earned The Joint Commission’s coveted Gold Seal of Approval® for quality, safety, and infection control in ambulatory healthcare. For more information, visit www.fastmed.com.