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Acquisition Adds 10 Medical Centers and Approximately 5,000 Medicare Advantage Members
 
June 21, 2021 – CareMax, Inc. (“CareMax”) (NASDAQ: CMAX; CMAXW), a leading technology-enabled provider of value-based care to seniors, announced today the closing of the acquisition of Senior Medical Associates, LLC (“SMA”). SMA operates 10 conveniently located medical centers across Broward County with approximately 5,000 Medicare Advantage members in the SMA network. CareMax intends to use SMA’s footprint as the foundation of CareMax’s expansion initiative in Broward County, a market with more than 335,000 Medicare eligible beneficiaries. CareMax expects the transaction to be immediately accretive.
 
“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.”
 
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“We believe the acquisition of SMA will further CareMax’s ability to provide high-quality, compassionate care to seniors,” commented 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.”
 
With this acquisition, CareMax now operates 36 medical centers, serving approximately 62,000 patients, including approximately 22,000 Medicare Advantage members. SMA brings to CareMax a track record of high-quality clinical care and member satisfaction. CareMax plans to build upon this success and accelerate the growth of the SMA network through multiple strategic avenues, including:
 
Utilizing CareMax’s proprietary technology platform, CareOptimize, to provide data, analytics and rules-based decision tools/workflows for SMA care teams to customize high-touch, whole person care and improve medical loss ratios;
Driving further organic growth by utilizing CareMax’s sales and marketing infrastructure and additional health plan relationships to fill existing patient capacity in SMA clinics (currently at ~50% capacity); and
Creating a leading presence in the region by filling in location gaps in a key adjacent market.
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.
 
About Senior Medical Associates
 
Senior Medical Associates is a group of primary care physicians with medical centers throughout Broward County. The group is dedicated to patients over 65 years of age, allowing for the full focus on the needs of seniors. The team consists of experienced physicians, nurse practitioners, medical assistants and staff all dedicated to providing compassionate and caring, personalized, primary care.