Purchase Of PreventiMed Adds More Doctors And $43 Million In Annual Revenue
MIAMI, FL – November 4, 2021 – Genuine Health Group (“Genuine Health”), a rapidly growing healthcare services company that partners with primary care physicians to deliver value-based care, announced today that it acquired PreventiMed, a physician-owned and operated management services organization (MSO). This is the first acquisition since Genuine Health received a $160 million investment from international alternative investment firm, Crestline Investors. PreventiMed’s founders will join Genuine Health’s leadership team.
The PreventiMed acquisition adds a sizeable cohort of primary care physicians to the company’s 200-plus physician network. In addition, the deal brings with it $43 million in annualized revenue for Genuine Health.
“We recognize the value of physician leadership, not only in the context of advancing outcomes-based clinical care, but also as a key to attracting similar, like-minded doctors,” said Genuine Health Group’s CEO, Joe Caruncho. “The physician-founders of PreventiMed understand that value-based care is here for the long haul, that it’s good for patients, and that doctors can benefit financially when they have access to the resources and infrastructure of a company like Genuine Health.”
Founded in 2017, Genuine Health has enjoyed rapid growth with an unconventional strategy. Unlike many companies competing to grow their population of Medicare patients, Genuine Health has demonstrated that growth does not require buying physician practices, but rather developing sustainable models for streamlining care delivery, improving health outcomes, and incentivizing physicians.
“My partners and I wanted to join forces with a healthcare innovator. We weren’t looking to get gobbled up and get out,” said Dr. Charles Yanes, CEO of PreventiMed. “Genuine Health is doing things differently, especially when it comes to providing a single source for managing Medicare patients’ overall care, regardless of whether those patients are enrolled in a Medicare Advantage plan or traditional Medicare.”
Genuine Health is one of only 53 companies nationwide operating a Direct Contracting Entity (DCE), which provides more options and care coordination to patients with traditional, fee-for-service Medicare. This distinction is among the factors that led to the company’s “Excellence in Healthcare” award for CEO Joe Caruncho and ranking among the fastest growing companies in Florida.
For more information about Genuine Health Group, or to schedule an interview, please contact Meieli Sawyer at email@example.com.
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.
PreventiMed, LLC is a physician-owned and operated management services organization that manages global risk contracts for Medicare Advantage beneficiaries.
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.