Prospect Medical Group (Prospect), a Southern California-based independent physician association (IPA), will acquire certain assets of CalCare IPA and Los Angeles Medical Center IPA, both of which serve Los Angeles County, and Vantage Medical Group in Riverside, San Bernardino, and San Diego. The transaction, which was entered into on April 22, 2020, is expected to close this summer subject to approvals from contracted health plans and other customary closing conditions.
Following the closing of the transaction, the three additional IPAs, representing more than 10,000 health care professionals, will join Prospect’s existing networks, becoming one of the largest IPAs in the country with more than 20,000 professionals in its network. The three additional IPAs currently hold health plan agreements with six payers responsible for approximately 130,000 members, most of whom are managed Medicaid/Medi-Cal members. The acquisition complements Prospect’s focus on providing care through the lifespan continuum for all members, across all products.
The Prospect Medical Group IPAs are managed by Prospect Medical Systems, which develops, implements, and manages a full range of support services. Prospect Medical Holdings, Inc. is the parent company of Prospect Medical Systems.
This was reported by Business Wire on May 18, 2020.
Contact information: Prospect Medical, 600 City Parkway West, 8th Floor, Orange, California 92868;800-708-3230; Website: www.prospectmedical.com