ClareMedica Health Partners Acquires Plaza Medical Centers, Significantly Expanding Access to Personalized Primary Care for Medicare Advantage Patients
- Apr 11, 2023
- Related Investments
MIAMI LAKES, FL / ACCESSWIRE / April 11, 2023 / ClareMedica Health Partners ("ClareMedica"), a provider of value-based primary care services for Medicare Advantage patients, announced today that it completed the acquisition of Plaza Medical Centers ("Plaza"). With this acquisition, ClareMedica will further expand its differentiated technology-enabled and high-quality care model in the high-growth Medicare Advantage sector.
ClareMedica is a portfolio company of Revelstoke Capital Partners ("Revelstoke"), a Denver-based healthcare private equity firm. Plaza is ClareMedica's largest acquisition since partnering with Revelstoke in February 2022.
"ClareMedica is excited to partner with the team at Plaza," said Ren Mullinix, Chief Executive Officer of ClareMedica. "We're on a mission to help seniors live healthier, happier, and fuller lives by delivering excellence in primary care outcomes and service. By combining the strengths and resources of our two organizations, we further our mission and offer the communities we serve greater access to our low-cost, high-satisfaction, patient-centered care model."
"This acquisition nearly doubles the size of ClareMedica's patient base to approximately ten thousand patients. We believe the combined organization is well-poised for success under the leadership of Ren and the ClareMedica team," said Russell Cassella, Managing Partner at Revelstoke.
"We look forward to working together with ClareMedica to continue our shared mission of delivering high-quality, comprehensive, and outcome-based healthcare to our patients," said Spencer Angel, CEO of Plaza Medical Centers. "We are thrilled to join forces with another exceptional clinical group whose talented management team and existing assets and services will improve quality of care for our rapidly growing patient base."
"We are well capitalized and rapidly building scale," said Stephen Dickey, Chief Growth Officer of ClareMedica. "We are actively searching for additional high-quality physician groups to join us in seeking to improve access to trusted and personalized primary care."
McGuireWoods LLP acted as legal counsel to Revelstoke and ClareMedica. Oppenheimer acted as financial advisor and Holland & Knight LLP acted as legal counsel to Plaza. Terms of the transaction were not disclosed.
About ClareMedica Health Partners
ClareMedica Health Partners is a provider of value-based primary care services for Medicare Advantage patients. The company's innovative model of technology-enabled care is centered on the patient and focuses on preventive health, chronic disease management, and care coordination. ClareMedica Health Partners' team of physicians, nurses, and other healthcare professionals work together in a differentiated team-based model to ensure patients receive the right care at the right time. To learn more about ClareMedica Health Partners, please visit the company's website at www.claremedica.com.
About Plaza Medical Centers
Plaza Medical Centers is a patient-first focused primary care provider for Medicare Advantage patients. The company's philosophy is to listen to its patients and support them in their own healthcare process. Plaza strives to create a comfortable environment where questions are encouraged and to provide the highest quality of prevention-based medical care. To learn more, please visit www.plazamedicalcenters.com.
Revelstoke (www.revelstokecapital.com) is a private equity firm formed by experienced investors who focus on building industry-leading companies in the healthcare sector. Revelstoke partners with entrepreneurs and management teams to execute on a disciplined organic and acquisition growth strategy as it strives to build exceptional companies. Revelstoke is based in Denver, Colorado and has approximately $5.5 billion of assets under management. Since the firm's inception in 2013, Revelstoke has completed 179 acquisitions, which includes 26 platform companies and 153 add-on acquisitions.