CareMax, Inc. Completes Acquisition of Medicare Value-Based Care Business of Steward Health Care System
Summary
“Our hybrid model of a capital-light MSO combined with high-performing medical centers establishes our foundation for industry leadership as we expand value-based care across the country.” Mr. de Solo continues, “This transaction is expected to be immediately accretive to revenue and Adjusted EBITDA. Equityholders of Steward also entered into an investor rights agreement that provides for certain limitations on voting of their shares of CareMax’s Class A common stock, among other governance matters. Additional information regarding the closing of the transaction will be included in a Current Report on Form 8-K that CareMax intends to file with the U.S. Securities and Exchange Commission before market open on Monday, November 14, 2022. Based in Dallas, Steward currently operates 39 hospitals across Arizona, Arkansas, Florida, Louisiana, Massachusetts, Ohio, Pennsylvania, Texas, and Utah. These forward-looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this press release.