Caremax Inc Stock Price, News & Analysis

CareMax reported a strong second quarter in 2022, achieving Medicare Advantage membership of 37,000, up 72% year-over-year, and total revenue of $172.3 million, reflecting an impressive 284% increase year-over-year. The company announced a proposed acquisition of Steward Health Care System's Medicare value-based care business, which is projected to enhance revenue and Adjusted EBITDA immediately. CareMax raised its 2022 guidance, now projecting membership growth to over 40,000 and revenue between $580 million and $600 million, marking a 44% to 49% increase.

CareMax, Inc. (NASDAQ: CMAX; CMAXW) will announce its Q2 2022 financial results on August 9, 2022, before market opening. A conference call at 8:30 am ET will follow to discuss these results. The call can be accessed at (888) 440-6519 for U.S. participants or (646) 960-0384 for international ones, using conference ID 4345921. A live webcast and replay will be available on its investor relations website.

Steward Health Care has appointed Rubén José King-Shaw Jr. to its Board of Directors. King-Shaw, currently serving as Steward's Executive VP & Chief Strategy Officer, has been instrumental in key strategic acquisitions, including the merger with Caremax (NASDAQ: CMAX). CEO Ralph de la Torre praised King-Shaw's advocacy for social justice and his leadership as essential in the post-COVID landscape. King-Shaw brings extensive experience from public service and previous roles in healthcare policy, enhancing Steward's mission to deliver quality care.

CareMax, Inc. (NASDAQ: CMAX; CMAXW), a technology-enabled provider of value-based care for seniors, announces senior management participation in a fireside chat at the Jefferies Healthcare Conference in New York City on June 9, 2022, at 4:00 pm EDT. A live webcast will be available on their investor relations website. CareMax specializes in chronic disease management and operates medical centers offering a range of healthcare services nationwide, supported by advanced data analytics and decision tools for physicians.

CareMax announced a definitive merger agreement to acquire the Medicare value-based care business of Steward Health Care for $25 million in cash and 23.5 million shares. This acquisition will expand CareMax's senior patient base by approximately 170,000 across eight states, enhancing its market presence to over 200,000 patients. The transaction is expected to be immediately accretive to revenue and Adjusted EBITDA, projecting annual revenue contribution of $1.6 to $1.7 billion by 2025. A conference call will discuss this strategic move on June 1, 2022.

CareMax, Inc. (NASDAQ: CMAX, CMAXW), a prominent provider of value-based care to seniors, announced its participation in a fireside chat at the UBS Global Healthcare Conference on May 25, 2022, at 8:30 am EST in New York City. The company offers a technology-enabled platform for chronic disease management and healthcare services through its medical centers across the United States. A live webcast of the event will be accessible via CareMax’s investor relations website.

CareMax reported a strong start to 2022 with Medicare Advantage membership reaching 34,000, a 106% increase year-over-year. Total revenue soared to $136.9 million, marking a 390% rise from $27.9 million in Q1 2021. The company reaffirmed its full-year guidance with expectations of 38,000 to 40,000 Medicare Advantage members and total revenue between $540 million and $560 million. Adjusted EBITDA projected between $30 million and $40 million, a substantial year-over-year increase. The company also entered a $300 million credit agreement to support growth strategies.

CareMax, Inc. (NASDAQ: CMAX; CMAXW) will announce its financial results for Q1 2022 on May 10, 2022, before market opening. A conference call will follow at 8:30 am ET to discuss the results and company activities. CareMax focuses on value-based care for seniors, operating medical centers with comprehensive healthcare services and a proprietary software platform for physicians. Investors can access the live audio webcast on CareMax's investor relations website.

CareMax, a leader in value-based care for seniors, has been recognized as one of Modern Healthcare’s 2022 Top Innovators. Chief Strategy Officer, Ben Quirk, highlighted the importance of innovation in health care, particularly following the pandemic. Quirk's initiatives in capitated and risk models, along with the development of a web-based provider engagement platform, have led to significant clinical and financial improvements. The honorees are featured in the April 4 issue of MH magazine and online.