Palm Medical Centers (Palm) has acquired Valley Medical Centers (VMC), a primary care practice with four medical centres in Florida, US, for an undisclosed amount.
With the purchase of VMC, Palm forays into Florida’s Orange County and solidifies its position in the state.
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The Palm network currently has 31 community-focused primary care facilities in eight counties of Florida.
This deal represents Phase I of Palm’s strategy to expand its clinical model throughout Orlando by the acquisition of clinics and opening new ones this year and in 2024.
The firm’s operating model centres on medical facilities and physicians who provide individualised primary care.
Palm CEO Fowad Choudhry said: “The Orlando market continues to experience a rapidly rising Medicare population, and expansion of our value-based operating platform into this market is a natural fit for us.”
“In addition to our geographic synergy, the VMC physicians share the same values and like-minded approach to delivering high-quality care to seniors in central Florida.”
In October 2022, Palm opened a new senior primary care centre in Dade City, Florida. This was its 25th healthcare facility in Florida.
Palm is an MBF Healthcare Partners II portfolio company. Set up in 2013, it serves over 43,000 Medicare Advantage and managed Medicaid patients.
