Addition Of Accountable Care Medical Group Adds $225 Million In Annual Revenue And More Than 14,000 Medicare Patients
MIAMI, FL – April 14, 2022 – Genuine Health Group (“Genuine Health”), a rapidly growing healthcare services company that partners with primary care physicians to deliver value-based care, announced today it acquired Accountable Care Medical Group (ACMG), a Florida-based physician group that operates Accountable Care Organizations, or ACOs. Genuine Health’s purchase of ACMG comes on the heels of acquiring two other provider organizations: Premier Care Associates and PreventiMed. A $160 million capital infusion from Crestline Investors funded all three acquisitions and dramatically accelerated Genuine Health’s growth, in terms of patient volume and annualized revenue.
Between the three companies, Genuine Health has added more than 20,000 Medicare patients and grew total annualized revenues to more than $750 million. In addition, ACMG expands the company’s geographic footprint throughout Florida and into Georgia and South Carolina, while adding more than 60 primary care physicians to Genuine Health’s network.
“The purchase of ACMG is by far our biggest acquisition to date,” said Joe Caruncho, president and CEO of Genuine Health Group. “In addition to adding a winning team of 60-plus doctors, ACMG brings a talented leadership team to our C-suite, particularly in the area of compliance. And with ACMG, we’re now in multiple states.”
ACMG operates Accountable Care Organizations, or ACOs, which serve the healthcare needs of patients enrolled in traditional Medicare. Genuine Health recently transitioned its own ACO into a newer care model known as a Direct Contracting Entity (DCE). Now, with the acquisition of ACMG, the company will operate both models, and it will continue to manage patient care on behalf of Medicare Advantage plans with which Genuine Health has established contracts.
“Joining Genuine Health Group allows us to become a ‘one-stop shop’ for our primary care doctors who treat Medicare patients,” said Chris Pertierra, CEO of ACMG. “Now, our doctors can participate in an ACO or DCE, where they can earn monthly capitation payments. And for their Medicare Advantage patients, they gain access to Genuine Health’s robust infrastructure to more effectively manage care for their patients with chronic conditions. It’s a very exciting development.”
Genuine Health Group recently received recognition as one of the “Best Places to Work” from the South Florida Business Journal. The company has also placed on the Miami-based publication’s “Fastest Growing Company” list for multiple years.
ACMG was represented in this transaction by Polsinelli, and Genuine was represented by Cozen O’Conner.
For more information about Genuine Health Group, or to schedule an interview, please contact Meieli Sawyer at firstname.lastname@example.org.
The statements contained in this document are solely those of the authors and do not necessarily reflect the views or policies of CMS. The authors assume responsibility for the accuracy and completeness of the information contained in this document.
About Genuine Health Group
Genuine Health Group, LLC is an analytics-driven healthcare company that assists physicians and health plans in successfully transitioning to value-based payment models for Medicare beneficiaries. For more information, visit www.genuinehealthgroup.com.
About Crestline Investors
Crestline Investors, Inc., founded in 1997 and based in Fort Worth, Texas, is an institutional alternative investment management firm. Crestline specializes in credit and opportunistic investments, including financing and restructuring solutions for mature private equity funds. In addition, the firm manages a multi-PM equity market-neutral hedge fund and provides beta and hedging solutions for institutional clients. The company maintains affiliate offices in New York, London, Toronto, and Tokyo. For more information, visit www.crestlineinvestors.com.