July 20, 2024

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CareMax To Acquire Medicare Value-based Care Business Of Steward Health Care System


(RTTNews) – CareMax, Inc. (CMAX) and Steward Health Treatment Technique declared a merger deal pursuant to which CareMax will purchase the Medicare value-primarily based treatment business of Steward for a mix of dollars and inventory. CareMax will fork out $25 million in hard cash and problem 23.5 million shares of CareMax’s class A common inventory to the equityholders of Steward at closing. Also, CareMax will fund a Medicare receivable to Steward covering accounts
receivable connected to 2021 and the pre-close time period of 2022.

Steward will have the possible to get an earnout of further shares of CareMax’s course A common inventory that, alongside one another with the authentic issuance of class A typical inventory issued to Steward at the first closing, would end result in Steward’s equityholders owning a full of 41% of CareMax’s class A widespread stock as of the original closing.

On closing, CareMax will provide as the special benefit-primarily based management solutions corporation throughout Steward’s Medicare network. CareMax’s community will increase to approximately 2,000 providers and access more than 200,000 senior price-dependent treatment individuals across 30 marketplaces.

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