CareMax To Acquire Medicare Value-based Care Business Of Steward Health Care System
(RTTNews) – CareMax, Inc. (CMAX) and Steward Wellness Treatment Method announced a merger offer pursuant to which CareMax will purchase the Medicare benefit-centered treatment company of Steward for a combination of income and stock. CareMax will pay back $25 million in hard cash and challenge 23.5 million shares of CareMax’s class A widespread inventory to the equityholders of Steward at closing. Also, CareMax will fund a Medicare receivable to Steward covering accounts
receivable relevant to 2021 and the pre-near period of time of 2022.
Steward will have the prospective to receive an earnout of additional shares of CareMax’s course A widespread inventory that, alongside one another with the primary issuance of course A widespread inventory issued to Steward at the original closing, would consequence in Steward’s equityholders possessing a complete of 41% of CareMax’s class A prevalent stock as of the first closing.
On closing, CareMax will serve as the unique price-dependent administration solutions group across Steward’s Medicare community. CareMax’s community will develop to around 2,000 suppliers and reach above 200,000 senior benefit-based mostly care people across 30 markets.
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