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White Oak Healthcare Finance Provides Growth Capital to CareMax Medical Group

August 21, 2019, 08:50 AM
Filed Under: Medical

White Oak Healthcare Finance, LLC announced it acted as sole lead arranger on the funding of a senior credit facility to finance the acquisition of New Life Health Group (“New Life”) by CareMax Medical Group (“CareMax”).  CareMax is an at-risk primary-care provider contracted by Medicare Advantage plans to provide care to patients in Florida.

“CareMax serves one of the largest and fastest growing Medicare and dual-eligible markets in the US,” said White Oak’s Managing Director Ross Eldridge.  “Carlos and Albert De Solo are proven thought leaders in the Medicare Advantage space, and have methodically built an impressive platform.  We are excited to partner with them on this transaction and be part of their growth story.”

CareMax operates a growing network of physicians and multi-specialty medical and wellness centers serving patients throughout Florida.  The company offers a comprehensive range of medical services, including primary and preventative care, specialist services, diagnostic testing, chronic disease management, dental and optometry services under global capitation contracts.  Through its financing with White Oak, CareMax has added an 8th medical center to its network in Tamarac, Florida further extending its medical and wellness coverage to the Medicare Advantage eligible patients in Broward County.

“White Oak provided us with strategic growth capital,” said Carlos De Solo, founder and CEO.  “Having a healthcare-focused financing partner like White Oak, who deeply understands our business and capital needs, will be instrumental as we execute our growth and expansion plan going forward.”

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