Best Value Healthcare, which is backed by Arsenal Capital Partners, has acquired MAXhealth, a Florida-based network of primary care medical centers. No financial terms were disclosed.
TAMPA, Fla., March 12, 2021 /PRNewswire/ — Best Value Healthcare LLC (“Best Value Healthcare”), a primary care platform focused on population health, announced today that it has acquired MAXhealth, a primary-care centric, multi-specialty group operating in West Florida, in partnership with MAXhealth’s founders: Tom Blankenship, Neil Bedi, and Inita Bedi. The terms of the transaction were not disclosed.
The acquisition immediately adds considerable scale to Best Value Healthcare and strengthens its presence in key attractive adjacent markets within Florida. Founded in 2006, MAXhealth includes approximately 45 primary care providers across 13 clinics and provides care for approximately 11,000 lives, primarily Medicare-eligible patients. Along with operating as a primary care provider, MAXhealth also offers a select complement of specialty care services in the areas of oncology, cardiology, and physical therapy.
Arsenal Capital Partners (“Arsenal”), a private equity firm that specializes in investments in healthcare and specialty industrial companies, completed an investment in Best Value Healthcare in November 2020.
Mike Bernstein, the CEO of Best Value Healthcare and an Operating Partner of Arsenal, said, “Arsenal continues to invest in building a strategic, value-based care organization. Best Value was the first cornerstone in that strategy, and now we have added MAXhealth as the second pillar in this effort to build a distinguished clinical leader focused on senior health.”
Dr. Rajankumar Naik, Co-Founder of Best Value Healthcare, said, “We are excited to announce our partnership with MAXhealth, a highly complementary business that shares our vision for patient-focused and outcomes-oriented primary care.”
Neil Bedi, CEO of MAXhealth, said, “We are proud to partner with Best Value Healthcare and Arsenal, two exceptional organizations which will further our mission to deliver value-based care to as many Floridians as possible.”
Following the transaction, Best Value Healthcare and MAXhealth are expected to continue operating under their current names. A single executive team is expected to result from this transaction, bringing together the leadership of both organizations.
MAXhealth is a network of primary care medical centers that provides convenient, affordable care for patients in communities along Florida’s west and southwest coasts. The organization’s patient-centered offerings extend beyond traditional primary care employing experienced specialists in a variety of disciplines, including senior wellness, oncology, cardiology, and women’s health. The company also offers diagnostic testing and pharmacy services. For more information, please visit: mymaxdoc.com.
About Best Value Healthcare
Headquartered in the Tampa Bay area, Best Value Healthcare is a patient-centered, physician-led, and population health-focused healthcare company. Founded and led by physicians, Best Value Healthcare’s team of healthcare providers and support service professionals share a revolutionary vision for delivering patient care in Florida with passion and purpose. Best Value Healthcare creates a direct path to improving outcomes, reducing costs, and enhancing healthcare experiences. For more information, visit www.bestvaluehealthcare.com.
About Arsenal Capital Partners
Arsenal is a leading private equity firm that specializes in investments in middle–market specialty industrials and healthcare companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds of $5.3 billion, completed more than 200 platform and add-on investments and achieved more than 30 realizations. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value–add. For more information, please visit www.arsenalcapital.com.