NEW YORK–(BUSINESS WIRE)–Please replace the release with the following corrected version due to multiple revisions.
The corrected release reads:
WHITE OAK HEALTHCARE FINANCE PROVIDES GROWTH CAPITAL FINANCING TO CAREMAX MEDICAL GROUP FOR EXPANSIONARY ACQUISITION
White Oak Healthcare Finance, LLC (“White Oak”) today announced it acted as sole lead arranger on the funding of a senior credit facility to finance the acquisition of New Life Health Group (“New Life”) by CareMax Medical Group (“CareMax”). CareMax is an at-risk primary-care provider contracted by Medicare Advantage plans to provide care to patients in Florida.
“CareMax serves one of the largest and fastest growing Medicare and dual-eligible markets in the US,” said White Oak’s Managing Director Ross Eldridge. “Carlos and Albert De Solo are proven thought leaders in the Medicare Advantage space, and have methodically built an impressive platform. We are excited to partner with them on this transaction and be part of their growth story.”
Based in Florida, CareMax, founded by Carlos and Albert De Solo, operates a growing network of physicians and multi-specialty medical and wellness centers serving patients throughout Florida. The Company offers a comprehensive range of medical services, including primary and preventative care, specialist services, diagnostic testing, chronic disease management, dental and optometry services under global capitation contracts.
Through its financing with White Oak, CareMax has added an 8th medical center to its network in Tamarac, Florida further extending its medical and wellness coverage to the Medicare Advantage eligible patients in Broward County.
“White Oak provided us with strategic growth capital,” said Carlos De Solo, founder and CEO. “Having a healthcare-focused financing partner like White Oak, who deeply understands our business and capital needs, will be instrumental as we execute our growth and expansion plan going forward.”
About CareMax Medical Group
CareMax Medical Group was founded in 2011 and is a leading health care organization focused on providing high-quality medical services through physicians and health care professionals committed to the overall health and wellness continuum of care for its patients.
CareMax utilizes a high touch, comprehensive approach to coordinating care for patients that incorporates both exceptional clinical care and the integration of technology and data analytics to manage risk and drive patient satisfaction, provide value-based care, and achieve superior clinical outcomes.
CareMax is seeking partnership or acquisition opportunities with high-quality primary care practices and centers serving the Medicare Advantage or geriatric community.
CareMax also has a MSO/IPA arm (“Managed Healthcare Partners” or “MHP”) that provides managerial support to physicians, allowing them to devote more time to patient care and less time to back-office activities. Through such services, physicians can benefit from the economies of scale, efficient specialty network and negotiated utilization network, dental and optometry services, technology, coding, and overall infrastructure that CareMax and MHP have tirelessly put together to better serve its network of independent physicians.
For more information, visit https://www.caremax.net/ or contact 305-425-9999.
About White Oak Healthcare Finance
White Oak Healthcare Finance, LLC (“WOHCF”), an affiliate of White Oak Global Advisors, LLC is a lender to all subsectors within the healthcare industry including healthcare services, pharma and life sciences, medical devices, healthcare technology, healthcare real estate, hospitals and SNFs. WOHCF has deep domain expertise with a sole focus on healthcare which enables it to provide flexible and creative solutions with certainty of execution. WOHCF offers a differentiated product set including cash flow term loans, asset based loans and ABL Stretch facilities, unitranche facilities, last out financings, real estate financings, equipment financings and opportunistic investments. As a lender with large pools of capital to deploy, WOHCF generally holds its full loan positions to maturity.
About White Oak Global Advisors
White Oak Global Advisors, LLC is a leading global alternative asset manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. Since its inception in 2007, White Oak Global Advisors’ disciplined investment process focuses on delivering risk-adjusted investment returns and establishing long term partnerships with our borrowers. More information can be found at www.whiteoaksf.com.