Bright Health Inc. acquired a 62% stake in Premier Medical Associates of Florida, LLC for $77.4 million.
March 17, 2021
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Bright Health Inc. acquired a 62% stake in Premier Medical Associates of Florida, LLC for $77.4 million on December 31, 2020. Premier Medical Associates of Florida was acquired in exchange for $59.6 million in cash and $17.8 million in Series E preferred shares of the company for total purchase consideration transferred, net of cash acquired of $3.2 million, of $74.2 million. As part of the acquisition, Bright Health entered into a put/call agreement with respect to the equity interests in PMA held by controlling interest holder. The call options allow for the company to purchase the 38% noncontrolling interest equity beginning on the fifth anniversary of the transaction date and each subsequent anniversary thereafter, or under certain other accelerating events as defined in the agreement, solely at the company’s discretion. The put option allows the noncontrolling interest holder the ability to cause the company to purchase their noncontrolling equity interest beginning on the seventh anniversary of the transaction date and each subsequent anniversary thereafter.
Bright Health Inc. completed the acquisition of a 62% stake in Premier Medical Associates of Florida, LLC on December 31, 2020.
NeueHealth, Inc. is a value-driven healthcare company. The Companyâs segments include NeueCare and NeueSolutions. NeueCare segment is a value-driven care delivery business that manages risk in partnership with external payors and serves all populations across the ACA Marketplace, Medicare, and Medicaid. NeueCare delivers in-person and virtual clinical care through its 73 owned primary care clinics within an integrated care delivery system. Its integrated system of care includes embedded pharmacy, laboratory, radiology, and population health focused specialty services. It offers a one-stop-shop for consumers providing primary care, behavioral health, rotating specialties, pharmacy, radiology, and laboratory services, many times at a single location. NeueSolutions segment is a provider enablement business that includes a suite of technology, services, and clinical care solutions that empower providers. NeueSolutions serves approximately 62,000 value-based care consumers.