Joint Venture Insurer Poised for a Bright Future as Leadership Focuses on Innovation and Growth

Banner|Aetna announces the retirement of its founding CEO, Tom Grote, and the appointment of Victoria Coley as the organization’s new chief executive officer effective January 1, 2025. This transition marks a milestone for the joint venture health insurer, which was formed with a mission to improve health care in 2017 by parent companies Banner Health and Aetna, a CVS Health company.

During Grote’s tenure, Banner|Aetna carved out a place as one of the nation’s top-performing joint venture health plans. The company’s remarkable achievements include sustained membership growth, financial success and the launch of groundbreaking initiatives that improve health care access and quality for people throughout Arizona, setting the insurer apart as a trailblazer in the industry.

“Tom Grote’s visionary leadership and unwavering commitment to transforming health care have been instrumental to Banner|Aetna’s success,” said Chuck Lehn, President, Banner Health Plans & Networks. “We are grateful for his contributions and excited to see the company’s pioneering work carried forward with Victoria at the helm.”

Coley, with 20 years of health plan leadership expertise, is ideally positioned to guide Banner|Aetna into its next chapter. Her accomplished career includes experience in health insurance sales and operations across commercial and Medicare lines of business. Most recently, she served as Chief Medicare Officer for Aetna in the Arizona and Mountain Markets, prior to which she oversaw the insurer’s commercial business as Executive Director of National Accounts in its Northwest and Mountain markets. Before joining Aetna, Coley served in various regional and market leadership roles for Humana, with responsibilities spanning commercial sales and market strategy for the national payer’s medical and specialty benefits in its Western region.

In Coley’s new role as CEO at Banner|Aetna, her strategic direction will lead the company to deliver even greater value to members, partners and communities.

“It’s an honor to join a company that pushes the boundaries of innovation and collaboration,” said Coley. “Banner|Aetna is redefining what health care can be, and I’m thrilled to lead this talented team to continued success.”

Banner|Aetna’s strategic priorities under Coley’s leadership include:

• Expanding access to care and improving health outcomes
• Leveraging integration between its payer and provider parent companies to create seamless, coordinated care experiences
• Enhancing the member experience with personalized, consumer-first solutions

“Aetna is proud to support Banner|Aetna as it enters this exciting new phase,” said Kyle McDonald, West Region President, Aetna. “Victoria is a proven leader who aligns with the organization’s mission-driven culture and can guide its future.”

For more information about Banner|Aetna, visit banneraetna.com.

About Banner|Aetna

Banner|Aetna is a health insurance company focusing on bettering member outcomes at a lower cost, all while improving the overall member experience for employers and consumers in Arizona. The collaboration combines Banner Health’s high-quality, local providers and delivery systems with Aetna’s health-plan experience, care management and health information technology. Banner|Aetna is the brand name used for products and services provided by Banner Health and Aetna Health Insurance Company and Banner Health and Aetna Health Plan Inc. For more information about Banner|Aetna, visit banneraetna.com.

About Banner Health

Banner Health is one of the largest, secular nonprofit health care systems in the country. In addition to 33 hospitals, Banner also operates an academic medicine division, Banner - University Medicine, and Banner MD Anderson Cancer Center, a partnership with one of the world’s leading cancer programs, MD Anderson Cancer Center. Banner’s array of services includes a health insurance division, employed physician groups, outpatient surgery centers, urgent care locations, home care and hospice services, retail pharmacies, stand-alone imaging centers, physical therapy and rehabilitation, behavioral health services, a research division and a nursing registry. To make health care easier, 100% of Banner-employed doctors are available for virtual visits and patients may also reserve spots at Banner Urgent Care locations and can book appointments online with many Banner-employed doctors. Headquartered in Arizona, Banner Health also has locations in California, Colorado, Nebraska, Nevada and Wyoming. For more information, visit bannerhealth.com.

About CVS Health

CVS Health^® is the leading health solutions company, delivering care like no one else can. We reach more people and improve the health of communities across America through our local presence, digital channels and over 300,000 dedicated colleagues–including more than 40,000 physicians, pharmacists, nurses and nurse practitioners. Wherever and whenever people need us, we help them with their health–whether that’s managing chronic diseases, staying compliant with their medications or accessing affordable health and wellness services in the most convenient ways. We help people navigate the health care system–and their personal health care–by improving access, lowering costs and being a trusted partner for every meaningful moment of health. And we do it all with heart, each and every day. Follow @CVSHealth on social media.

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