Aledade, the nation’s largest network of independent primary care, and Ares Commercial Finance announced a $500 million senior secured credit facility, led by Ares Credit funds, to support the Company's continued growth and scale. The new credit facility, which has flexibility to expand to up to $650 million, doubles Aledade's current committed financing capacity.
As a national leader in the Medicare Shared Savings Program (MSSP), Aledade partners with primary care organizations to drive their success in value-based care by helping physicians get paid for improved outcomes rather than the quantity of services provided. In 2024, Aledade’s MSSP Accountable Care Organizations (ACOs) generated $1 billion in savings. The expanded credit facility provides working capital flexibility to help Aledade manage its expenses and support its partners in their transition from the existing fee-for-service model to success in value-based care.
"This working capital facility provides Aledade with the flexibility to bridge the natural timing gap in Medicare payments and the capacity to expand as we continue to scale our business,” said Farzad Mostashari, M.D., co-founder and CEO of Aledade. “This allows us to accelerate shared savings distributions to our clinician partners, enabling them to reinvest in their patients and practices sooner to sustain our momentum in value-based care.”
Aledade currently supports more than 20,000 clinicians in 2,400 practices and community health centers across 46 states, serving nearly 3 million Medicare patients through value-based care programs. In the 2024 MSSP performance year, 93% of Aledade's physician-led ACOs achieved shared savings compared to under 70% among non-Aledade participants. Since 2014, Aledade and its partners have driven more than $3 billion in health care savings for U.S. taxpayers.
“As a public benefit corporation, Aledade’s mission includes improving patient care and lowering its overall cost,” added Dan Berger, Managing Director in Ares Commercial Finance. “We are pleased to be a catalyst to further these goals.”
“We are excited to support Aledade’s growth plans as its sophisticated technology continues to enable the expansion of value-based primary care on a national level to the benefit of patients and physicians while helping to drive savings for the Centers for Medicare and Medicaid Services,” said Todd Gordon, Managing Director and Head of Healthcare ABL in Ares Commercial Finance.