HealthLynked announced on January 20 that it has signed a definitive agreement to sell its ACO Health Partners subsidiary to PBACO Holding, LLC, which operates under the name Palm Beach Accountable Care Organization (PBACO). According to data captured in the LevinPro HC database, this acquisition represents the first accountable care organization (ACO) transaction of 2023. There was just one ACO deal announced during 2022.
Under the terms of the agreement, HealthLynked will receive $750,000 in cash, as well as up to $2.25 million incremental cash based on agreement to participate in PBACO by AHP’s existing physician practices or newly added practices, scaled based on the number of covered patients transferred to PBACO by July 31, 2023.
Based in Jacksonville, Florida, ACO Health Partners is an ACO participating in the Medicare Shared Savings Program.
PBACO is a physician owned and operated value-based network of approximately 400 primary care physicians and 300 specialist physicians in Florida. PBACO operates upside and downside risk Medicare and commercial ACOs with approximately 93,000 Medicare and 123,000 commercial lives and a total of $1.7 billion annual billing under management.
