CareMax To Acquire Medicare Value-based Care Business Of Steward Health Care System
(RTTNews) – CareMax, Inc. (CMAX) and Steward Health and fitness Treatment Method introduced a merger deal pursuant to which CareMax will obtain the Medicare worth-primarily based treatment small business of Steward for a mix of money and inventory. CareMax will shell out $25 million in hard cash and challenge 23.5 million shares of CareMax’s class A popular inventory to the equityholders of Steward at closing. Also, CareMax will fund a Medicare receivable to Steward masking accounts
receivable connected to 2021 and the pre-close period of 2022.
Steward will have the probable to obtain an earnout of more shares of CareMax’s class A typical inventory that, alongside one another with the unique issuance of course A common inventory issued to Steward at the original closing, would consequence in Steward’s equityholders proudly owning a full of 41% of CareMax’s course A popular inventory as of the preliminary closing.
On closing, CareMax will serve as the exclusive price-based management companies business across Steward’s Medicare community. CareMax’s community will broaden to roughly 2,000 providers and reach over 200,000 senior benefit-primarily based treatment people across 30 markets.
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