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Cambia Health Solutions and Blue Cross Blue Shield of North Carolina have terminated their merger talks.

Between the lines: The deal derailed after Patrick Conway, BCBS of NC's former CEO and a former top Medicare official, allegedly hit another car while driving under the influence of alcohol, which led to his resignation.

Go deeper

Updated 9 mins ago - Politics & Policy

Inauguration Day dashboard

U.S. Capitol and stage are lit at sunrise ahead of the inauguration of Joe Biden. Photo: Patrick Semansky - Pool/Getty Images

President Biden is delivering his inaugural address at the Capitol. Watch a livestream here.

What's next: Biden and Vice President Harris review readiness of military troops, a long-standing tradition to signify the peaceful transfer of power.

Updated 17 mins ago - Politics & Policy

In photos: The Biden and Harris inauguration

Joe Biden is sworn in as the 46th president of the United States. Photo: Alex Wong/Getty Images

Joe Biden and Kamala Harris were inaugurated as president and vice president respectively in a ceremony at the U.S. Capitol on Wednesday morning.

Why it matters: Top Democrats and Republicans gathered for the peaceful transfer of power only two weeks after an unprecedented siege on the building by Trump supporters to disrupt certification of Biden's victory. Trump did not attend Wednesday's ceremony.

Joe Biden sworn in as 46th president of the United States

Joe Biden was sworn in just before noon on Wednesday as the 46th president of the United States, in an inauguration ceremony unlike any other.

Why it matters: The 78-year-old Democrat assumes the presidency at a fraught moment for the country, which remains polarized and in the grips of a coronavirus crisis that has killed more than 400,000 Americans.