CareMax, Inc. Completes Acquisition of Medicare Value-Based Care Business of Steward Health Care System
CareMax, Inc. (NASDAQ: CMAX; CMAXW) (CareMax or the Company), a leading technology-enabled provider of value-based care to seniors, today announced that it has completed its acquisition of the Medicare value-based care business of Steward Health Care System (Steward), establishing CareMax as one of the largest independent senior-focused value-based care platforms in the U.S.
- CareMax, Inc. (NASDAQ: CMAX; CMAXW) (CareMax or the Company), a leading technology-enabled provider of value-based care to seniors, today announced that it has completed its acquisition of the Medicare value-based care business of Steward Health Care System (Steward), establishing CareMax as one of the largest independent senior-focused value-based care platforms in the U.S.
- The Medicare value-based care business of Steward includes a Medicare Direct Contracting Entity (DCE) and two Medicare Shared Savings Program (MSSP) accountable care organizations (ACOs), one of which is one of the nations largest ACOs.
- Stewards network also includes an additional approximately 380,000 Medicare Advantage fee-for-service beneficiaries and approximately 480,000 traditional Medicare beneficiaries, for whom CareMax and Steward will look for opportunities to provide value-based services.
- SVB Securities served as exclusive financial advisor to Steward, and Sidley Austin LLP served as legal counsel to Steward.