P3 Health Partners and Foresight Acquisition have entered into a definitive merger agreement that values the combine company at $2.3 billion.
Proceeds will consist of up to $316 million of cash held in Foresight’s trust account, assuming no redemptions, and an additional fully committed PIPE of over $200 million at $10 per share, including participation from funds and accounts managed by Fidelity Management & Research Company and Janus Henderson Investors.
P3 is a physician-led population health management company that supports providers, physicians, and practices in value-based systems of care and wellness. P3 believes its extensive experience managing Medicare Advantage populations drives its model, which simultaneously improves care and decreases costs. P3 is a portfolio company of Chicago Pacific Founders who provided P3’s initial and growth capital.
Pending regulatory and shareholder approvals, upon closing P3 Health Partners would list on the Nasdaq. Read more.
