Los Angeles-based Prospect Medical Group aims to acquire three independent physician practices in Southern California, the organization announced Monday. Prospect Medical Group, which is owned by Prospect Medical Holdings, plans to buy certain assets of CalCare IPA, Los Angeles Medical Center IPA and Vantage Medical Group. The transaction, which would double Prospect’s network to more than 20,000 doctors, is expected to close this summer. Prospect’s payment models including capitation and shared savings are well positioned to weather unstable healthcare environments like the one COVID-19 has wrought, the company told Modern Healthcare via email. The three physician groups have contracts with six payers that manage around 130,000 members, most of whom are managed Medicaid/Medi-Cal beneficiaries. Private equity-backed Prospect currently owns or manages 25 independent physician groups across six states with 500,000 members.
Read the full article: Prospect Medical Group to Double Size with Three Practice Acquisitions //
Source: https://www.modernhealthcare.com/mergers-acquisitions/prospect-medical-group-double-size-three-practice-acquisitions