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Blue Cross North Carolina, Cambia end regulatory approval request for deal

Blue Cross and Blue Shield of North Carolina and Cambia Health Solutions Inc. have mutually agreed to withdraw their regulatory approval request for their proposed merger.

The companies previously said they were putting the deal on hold following reports about an alleged alcohol-related traffic accident involving the then president and CEO of Blue Cross and Blue Shield North Carolina, Patrick Conway.

Conway, who resigned at the request of the company's board, is facing charges including driving while impaired and two counts of misdemeanor child abuse following the accident. He was set to lead the combined structure under the merger as CEO.