Divestiture • Healthcare Services

CareMax Acquires Steward Health Care System - Medicare Value-Based Care Business

On June 1, 2022, CareMax acquired healthcare services company Steward Health Care System - Medicare Value-Based Care Business from Steward Health Care for 25M USD

Acquisition Context
  • This is CareMax’s 6th transaction in the Healthcare Services sector.
  • This is CareMax’s largest (disclosed) transaction.
  • This is CareMax’s 6th transaction in the United States.
  • This is CareMax’s 1st transaction in Texas.

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M&A Deal Summary

Date June 1, 2022
Target Steward Health Care System - Medicare Value-Based Care Business
Sector Healthcare Services
Buyer(s) CareMax
Sellers(s) Steward Health Care
Deal Type Divestiture
Deal Value 25M USD

Target Company

Steward Health Care System - Medicare Value-Based Care Business

Dallas, Texas, United States
Steward Health Care System's Medicare Value-Based Care Business is a senior-focused value-based care platform in the U.S. across Medicare Advantage, DCE/ACO REACH and MSSP.
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Buyer Overview 1

Buyer

CareMax

Miami, Florida, United States

Category Company
Founded 2011
Sector Healthcare Services
Employees1,450
Revenue 751M USD (2023)
DESCRIPTION

CareMax is a provider of medicare advantage plans which offers more than traditional Medicare, with vision, hearing, dental and health programs. CareMax was founded in 2011 and is based in Miami, Florida.


Deal Context for Buyer #
Overall 6 of 6
Sector: Healthcare Services 6 of 6
Type: Divestiture 1 of 1
State: Texas 1 of 1
Country: United States 6 of 6
Year: 2022 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-06 DNF Medical Centers

Orlando, Florida, United States

DNF Medical Centers is a family medical center Orlando residents trust with all of their wellness and aesthetic service needs.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-25 CareMax’s Core Centers’ Assets

Miami, Florida, United States

CareMax’s Core Centers’ Assets include a vast majority of operating clinics. CareMax’s Core Centers’ Assets are based in Miami, Florida.

Sell -

Seller Profile 1

SELLER

Steward Health Care

Dallas, Texas, United States

Category Company
Founded 2010
Sector Healthcare Services
DESCRIPTION

Steward Health Care is the largest private, tax-paying physician-led health care network that operates 37 hospitals in the United States and the country of Malta that regularly receive top awards for quality and safety. Steward Health Care was founded in 2010 and is based in Dallas, Texas.


Deal Context for Seller #
Overall 3 of 5
Sector: Healthcare Services 2 of 4
Type: Divestiture 3 of 5
State: Texas 2 of 3
Country: United States 3 of 5
Year: 2022 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-20 Steward Health Care - Five Utah Hospitals

Dallas, Texas, United States

Steward Health Care’s five Utah hospitals provide healthcare services in Arizona, Texas, Arkansas, Louisiana, Florida, Ohio, Pennsylvania, and Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-15 Steward Health Care System - Utah Care Sites

Lehi, Utah, United States

Steward Health Care System's Utah Care Sites which include five hospitals, more than 35 medical group clinics, and a clinically integrated network of care providers. Steward Health Care System's Utah Care Sites are based in Lehi, Utah.

Sell -