![]() Together we are on a mission to revolutionize the way health care is delivered - creating healthier lives, thriving communities and a better world. One that provides our patients better, more proactive care at a sustainable cost, our providers unrivaled coordination of care, and our communities greater prosperity and stability.Īs the country’s largest physician-led, tax paying, integrated health care system, our doctors can be certain that we share their interests and those of their patients. Nearly a decade ago, Steward Health Care System emerged as a different kind of health care company designed to usher in a new era of wellness. We look forward to leading the industry in this new era of health care and continuing to provide world class care to our patients." ![]() The extension of our ABL coupled with our reengineered structure position us extraordinarily well for the coming year. Steward used lessons from the pandemic to refocus its nationally acclaimed value-based model. Ralph de la Torre commented, "The Covid pandemic, and its aftermath, exposed serious fault lines in the traditional approach to health care. as Administrative Agent, the new agreement amends and restates in its entirety Steward’s previous credit agreement. 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.DALLAS, December 22, 2022-( BUSINESS WIRE)-Steward Health Care System LLC (Steward) today announced the completion of the extension of their ABL agreement with its lenders, through December 2023. “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 includes 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. ![]() 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. – The acquisition will expand CareMax’s comprehensive and coordinated healthcare delivery system designed to improve overall health outcomes for senior value-based care patients.īringing Whole Person Healthcare to Underserved CommunitiesĬareMax will serve as the exclusive value-based management services organization (“MSO”) across Steward’s Medicare network. In addition, CareMax will fund a Medicare receivable to Steward covering accounts receivable related to 2021 and the pre-close period of 2022. – CareMax will pay $25 million in cash and issue 23.5 million shares of CareMax’s Class A common stock to the equity holders of Steward at closing, subject to customary adjustments. ![]() – CareMax, a tech-enabled provider of value-based care to seniors announced an agreement to acquire the Medicare value-based care business of Steward Health Care System for a combination of cash and stock.
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