Deerfield Healthcare Technology Acquisitions filed a preliminry proxy on its proposed business combinations with CareMax Medical Group and IMC Medical Group Holdings. Both are technology-enabled providers of value-based care to seniors. The deal was announced in December.
A date for the shareholder vote has not been announced.
Following the business combination, the new company will be named CareMax and will remain listed on the Nasdaq under a new ticker symbol.
The total consideration for CareMax will be approximately $364 million, net of debt.
Total consideration to IMC Health equity holders will be $250 million, net of debt.
To sweeten the deal, current CareMax shareholders will be entitled to receive an additional earn out payment of up to 6.4 million shares of CareMax common stock, with 50% of those shares vesting if the stock of the company trades at or above $12.50 during in first 12 months after closing and the balance of the shares will vest if the stock trades at or above $15 during the first 24 months after closing. Read more.
