CenterWell Completes Acquisition of MaxHealth from Arsenal Capital Partners

The transaction expands CenterWell Senior Primary Care’s footprint across West and South Florida. Financial terms were not disclosed.

CenterWell, the healthcare services division of Humana Inc., has completed its acquisition of Florida-based primary care organization MaxHealth from Arsenal Capital Partners and the company’s founder-shareholders. The transaction expands CenterWell Senior Primary Care’s footprint across West and South Florida. Financial terms were not disclosed.

MaxHealth operates 54 owned primary care clinics, four owned specialty and ancillary clinics, and 24 affiliated downstream clinics across Florida. The network serves more than 120,000 patients, including over 80,000 patients enrolled in value-based care programs.

Following the acquisition, MaxHealth will operate under CenterWell Senior Primary Care, which CenterWell describes as the nation’s largest senior-focused, value-based primary care provider. The acquisition is intended to extend CenterWell’s reach into additional Florida markets and increase access to senior-focused primary care services.

Sanjay Shetty, M.D., President of CenterWell, said the acquisition brings MaxHealth’s clinicians and staff into the CenterWell Senior Primary Care network, aligning operations under a shared value-based care model.

MaxHealth leadership also commented on the transition. Kimberly Ficocelli, Co-Founder of MaxHealth, said the organization was built around provider alignment and patient-centered care, with support from Arsenal Capital Partners during its growth phase. Michelle Leslie, Chief Executive Officer of MaxHealth, noted that the company plans to continue expanding access to primary care services in Florida under CenterWell’s ownership.

Arsenal Capital Partners, a private equity firm focused on healthcare and industrial growth companies, supported the consolidation of multiple physician-founded organizations to create MaxHealth. The platform was formed through the combination of Best Value Healthcare, MAXhealth, and Primary Care Associates, along with additional independent providers.

Guggenheim Securities and Morgan Stanley served as financial advisors to MaxHealth, with Sidley Austin LLP acting as legal counsel. For Humana and CenterWell, J.P. Morgan Securities LLC acted as financial advisor and Latham & Watkins LLP served as legal counsel.

CenterWell is part of Humana Inc. (NYSE: HUM) and operates senior-focused primary care centers, home health services, and pharmacy businesses across the United States.

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