MyCare Medical announced the recent acquisition of South Florida Family Medicine (SFFM), located in Plantation, Florida. Greatly expanding MyCare’s clinical footprint in South Florida, the addition of SFFM adds three new committed and experienced healthcare professionals to MyCare’s growing network which now serves more than 50,000 patients statewide. Founded by Dr. Sylvan Goldin, and currently led by Dr. Jarrod Frydman, SFFM has served the Broward community for over 50 years.
On the heels of going public via a SPAC deal, primary care group Cano Health has acquired Miami-based University Health Care for $600 million. The transaction includes $540 million in cash and $60 million in equity and was financed through cash on hand, incremental borrowings under its existing credit facilities and common equity issued to University’s shareholders, according to a company press release. The deal will significantly expand Cano Health’s market share in Florida, growing its footprint to 13 University facilities and over 300 University staff and affiliate providers serving approximately 24,000 Medicare Advantage members.
Accolade, Inc. (Nasdaq: ACCD), the company reinventing healthcare by helping people live their healthiest lives, announced Wednesday it has completed the acquisition of PlushCare, a leading provider of virtual primary care and mental health treatment. Pursuant to the merger agreement previously announced on April 23, 2021, the transaction is valued at up to $450 million, consisting of $40 million in cash, $340 million in Accolade common stock (equal to approximately 7.5 million common shares), and up to an additional $70 million of value (equal to approximately 1.5 million common shares) payable upon the achievement of defined revenue milestones.
Digital health market watchers were surprised when concierge medical network One Medical announced plans to acquire value-based chain Iora Health for $2.1 billion on Monday, with some airing concerns the deal represents a marriage of two diametrically opposed operational models. With the Iora acquisition, One Medical is expanding its focus beyond capitated fee-for-service and into Medicare’s risk-based programs, which can be extremely lucrative.
Deerfield Healthcare Technology Acquisitions Corp. (“DFHT”) (NASDAQ: DFHT), a special purpose acquisition company sponsored by an affiliate of Deerfield Management Company, L.P. (“Deerfield”), and Richard Barasch, a veteran healthcare public company executive and investor, announced Tuesday that it has closed its business combination with CareMax Medical Group, L.L.C. and IMC Medical Group Holdings LLC (“IMC”), creating a technology-enabled care platform providing value-based care and chronic disease management to seniors.
1Life Healthcare, Inc. (One Medical) (Nasdaq: ONEM), a leading human-centered and technology-powered primary care organization, today announced it has entered into a definitive agreement to acquire Iora Health, a human-centric, value-based primary care group with built-for-purpose technology focused on serving Medicare populations, in an all-stock transaction valued at approximately $2.1 billion. One Medical and Iora Health are aligned in their missions, models, and cultures to transform healthcare for key stakeholders — Consumers, Employers and Payers, Providers, and Health Networks.
Deerfield Healthcare Technology Acquisitions Corp. (“DFHT”) (NASDAQ: DFHT; DFHTW; DFHTU), a special purpose acquisition company sponsored by an affiliate of Deerfield Management Company, L.P. (“Deerfield”) and Richard Barasch, a veteran healthcare public company executive and investor, announced Friday that DFHT stockholders have voted to approve all of the proposals related to the proposed business combination with CareMax Medical Group LLC (“CareMax”) and IMC Medical Group Holdings LLC (“IMC”), to create a technology-enabled care platform providing value-based care and chronic disease management to seniors.
Medical subscriptions, a $199 million CEO payday and the race to fix primary care in the U.S. One Medical is betting big that a subscription model can fix primary care. But the firm faces competition from CVS, Target and large hospital systems.
Cano Health, Inc. (“Cano Health,” the “Company,” “we,” “our” or “us”), a leading value-based primary care provider for seniors and underserved communities, announced Thursday it has completed its business combination with Jaws Acquisition Corp. (“Jaws”) (NYSE: JWS). The business combination, which was approved by Jaws’ stockholders at its special meeting held on June 2, 2021, will enable Cano Health to achieve its vision of becoming America’s leader in primary care and accelerate the Company’s growth. Beginning June 4, 2021, Cano Health’s shares of Class A common stock will trade on the New York Stock Exchange (“NYSE”) under the symbol “CANO.”
Citing the high cost of running a practice, complex health care reforms, and reimbursement cuts, more and more primary care doctors in private practice are selling off their practices to hospitals and other medical companies such as VillageMD, who recently acquired the HSE Medical Associates, 10720 Barker Cypress Road in Cypress. With 20 new providers and four new locations—Cypress, Shenandoah, and two in Houston—VillageMD now boasts 36 clinics in the Houston area alone.
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