Apollo Medical Holdings has joined forces with IntraCare for supporting value-based care in the US states of Oklahoma and Texas.
IntraCare operates a value-based primary care provider network as well as primary care clinics that are mainly located in Texas.
With a goal to enhance healthcare outcomes, this alliance aims to expedite access to value-based care for seniors in three areas.
Initially, the accountable care association (ACO) of Apollo Medical will collaborate with the primary care providers of IntraCare, as part of the ACO REACH programme, which is an attribution-based risk-bearing model.
In addition to advancing health equity, the programme was designed to bring the accountable care benefits to Medicare beneficiaries living in underserved communities.
Additionally, ApolloMed’s value-based care platform will be deployed as the exclusive care enablement partner for the IntraCare providers, who are participating in the ACO REACH programme.
ApolloMed co-CEO Brandon Sim said: “We have admired IntraCare's demonstrated track record of successfully empowering local independent primary care practices in Texas and Oklahoma, a strategy which is aligned with and complementary to our success in our core markets.
“With this partnership, we are excited to build upon IntraCare's momentum and partner with their providers in our ACO, continuing to scale our Care Partners business.
“We also look forward to bringing our Care Enablement platform to these providers and will work closely with IntraCare's leadership team in continuing to expand upon their historical success while exploring additional avenues for collaboration down the road."
The company will also offer a $25m senior secured convertible promissory note, which will mature in 2028, to IntraCare for enabling its growth.
For the transactions, Guggenheim Securities served as financial advisor to IntraCare.
IntraCare CEO Anwar Kazi said: “We believe that joining forces with ApolloMed will enable us to accelerate the growth of our business as we look to continue expanding our affiliate network and owned clinic footprint within our existing geographic presence in Texas and Oklahoma.”
