November 18, 2024

Nashville, TN – Revere Medical, an employed medical group and affiliate provider network with operations across 6 states, has entered into an agreement with CareMax, Inc. (NASDAQ: CMAX, CMAXW) (“CareMax”), a leading technology-enabled value‑based care delivery system, pursuant to which Revere Medical will acquire the Medicare Shared Savings Program portion of CareMax’s Management Services Organization (“MSO”) that supports care provided to approximately 80,000 Medicare beneficiaries.

CareMax’s MSO is an established Accountable Care Organization (“ACO”) that drives engagement and better experience for patients, while improving quality and reducing costs to the healthcare system. “The acquisition of CareMax’s MSO directly complements the vision of our recent Stewardship acquisition. We are excited to offer a model to our employed and affiliated providers that truly provides care to the entire community across multiple payor lines and reimbursement models, both fee-for-service and value-based”, said Revere Medical CEO, Benson Sloan. “The addition of CareMax’s MSSP ACO will allow Revere Medical to better meet the needs of each provider’s patient panel and further supports our mission of enabling physicians, managing costs, and driving a more patient-centered experience,” said Chris Michalik, Managing Director at Kinderhook Industries. “The approximately $50 million in collective savings generated by CareMax MSOs in 2023 reinforces our commitment to value-based care that not only enhances clinical quality and outcomes, but also drives essential cost savings,” said Matt Bubis, Managing Director at Kinderhook Industries.

The transaction will be implemented pursuant to CareMax’s prearranged voluntary Chapter 11 proceedings and is subject to related court approval and customary regulatory approval and closing conditions. Revere Medical anticipates that the transaction will close in Q1 2025.

Revere Medical was represented by Kirkland & Ellis LLP (Legal Counsel) and Bass, Berry & Sims PLC (Regulatory Counsel).

For additional information about this transaction, please contact: 
Christian Michalik
Managing Director
(212) 201-6782
[email protected]
 
Matt Bubis
Managing Director
(212) 201-6788
[email protected]