![]() We believe that our physician-led, integrated health care system with a network of over one million Medicare beneficiaries coupled with CareMax’s proprietary, industry-leading clinical model will deliver the next generation of healthcare in this country,” said Dr. CareMax is a like-minded organization with a talented management team and the assets and expertise in place to move our mission forward. “Steward was founded to provide top quality healthcare to communities that have historically been medically underserved. We plan to deploy our current MSO model, which we’ve been operating since 2011, to improve quality of care, health outcomes and wellbeing for seniors across eight states, while reducing overall healthcare costs,” said Carlos de Solo, Chief Executive Officer of CareMax. “We are excited to announce the acquisition of Steward’s Medicare value-based care business, which will enable us to significantly accelerate our growth by bringing CareMax’s best-in-class, proprietary value-based care model to the communities in which Steward’s value-based care business operates. Further, CareMax has a committed focus to addressing non-medical social determinants of health, which has proven to have a significant impact on health outcomes. These locations are anticipated to resemble CareMax’s current de novo model, which include primary care physicians, specialists in high demand, such as cardiologists, pulmonologists, radiologists and others, social services, activity centers and other services. CareMax plans to offer convenient and sophisticated products as well as physical locations in Steward’s markets. ![]() In addition, Steward received a 100% quality rating and achieved the second highest total cost savings amongst the roughly 500 ACOs in the program.ĬareMax will bring its industry leading, technology-enabled, value-based care platform, which is comprised of proprietary technology, payor relationships, best practices, practice transformation workflows, risk adjustment and quality coordination services to Steward’s expansive senior patient base. Most recently, Steward delivered top performance in the 2020 MSSP and was the largest MSSP ACO in the nation. Similarly, since the launch of its 2012 Medicare Pioneer ACO, Steward has consistently ranked as one of the top performing ACOs in the country. CareMax has achieved a Five-Star quality rating, the highest possible rating, across its locations overall. Following the transaction, CareMax’s network will expand to approximately 2,000 providers and reach over 200,000 senior value-based care patients across 30 markets.ĬareMax’s focus on whole person health through a unique blend of targeted technology and comprehensive, high-touch care has resulted in improved clinical outcomes compared to peers and traditional Medicare benchmarks. In addition, Steward and its affiliated practices service approximately 387,000 Medicare Advantage Fee for Service patients and 482,000 Traditional Medicare Fee for Service beneficiaries. Steward’s value-based care network of approximately 170,000 patients includes 50,000 Medicare Advantage patients, 112,000 Medicare Shared Savings Program (“MSSP”) patients and 9,000 Direct Contracting (“DCE”) patients. Upon closing the transaction, CareMax will serve as the exclusive value-based management services organization (“MSO”) across Steward’s Medicare network. (NASDAQ: CMAX) (“CareMax” or the “Company”), a leading technology-enabled provider of value-based care to seniors, and Steward Health Care System (“Steward”), the parent of one of the nation’s largest accountable care organizations (“ACOs”) with more than 6,600 providers and 43,000 healthcare professionals, today announced a definitive merger agreement pursuant to which CareMax will acquire the Medicare value-based care business of Steward for a combination of cash and stock. Management to hold conference call to discuss transaction at 8:00am ET on June 1, 2022ĬareMax, Inc. ![]() Transaction projected to be immediately accretive to revenue and Adjusted EBITDA following close.Initially adds approximately 170,000 senior value-based care patients across eight states.Brings CareMax’s high-quality, whole person healthcare to underserved communities with a focus on patients' social determinants of health to promote health equity. ![]()
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