MIAMI–(BUSINESS WIRE)–CareMax, Inc. (NASDAQ: CMAX; CMAXW), a leading technology-enabled provider of value-based care to seniors, announced today that it has closed the previously announced acquisition of DNF Medical Centers, a leading medical practice in the Orlando Metro area.
DNF operates six conveniently located medical centers serving approximately 4,000 Medicare Advantage members in its network. With this acquisition, CareMax now operates 42 medical centers, serving approximately 66,000 patients, including approximately 26,000 Medicare Advantage members. CareMax intends to use DNF as the foundation to further expand in the Central Florida and Tampa Bay region, a market with more than 2 million Medicare-eligible beneficiaries.
“We are excited to welcome the DNF physicians, patients and employees to the CareMax family and grow our presence in Central Florida by providing high-quality, compassionate care to seniors,” said Carlos de Solo, Chief Executive Officer of CareMax. “This is an important acquisition for CareMax and is a step forward in executing our multi-pronged expansion strategy focused on de novo growth and strategic M&A.”
CareMax plans to build upon DNF’s track record of high-quality clinical care and member satisfaction, and accelerate the growth of the DNF network through multiple strategic avenues, including:
- Working with the DNF leadership team to identify additional underserved communities in the Central Florida and Tampa Bay markets that would benefit from the CareMax model and new de novo buildouts;
- Utilizing CareMax’s proprietary technology platform, CareOptimize, to provide data, analytics and rules-based decision tools/workflows for DNF care teams to customize high-touch, whole person care and improve medical loss ratios; and
- Driving further organic growth by utilizing CareMax’s sales and marketing infrastructure and additional health plan relationships to fill existing patient capacity in DNF clinics (currently at less than 25% capacity).
The acquisition is expected to be immediately accretive.
About CareMax
CareMax is a technology-enabled care platform providing value-based care and chronic disease management to seniors. CareMax operates medical centers that offer a comprehensive suite of healthcare and social services, and a proprietary software and services platform that provides data, analytics, and rules-based decision tools/workflows for physicians across the United States. Learn more at www.caremax.com.
