Fort Lauderdale, Florida, May 23, 2022 (GLOBE NEWSWIRE) — Cross Keys Capital, LLC, a leading independent investment banking firm providing M&A advisory services, is pleased to announce it acted as the exclusive financial advisor to NeighborMD, Inc., in the sale of its Florida assets and Medicare Advantage management services organization to Skylight Health Group, Inc. (NASDAQ:SLHG; TSXV:SLHG). The transaction team included Bill Britton, Co-Founder and Managing Director, Jeanne Proia, Senior Advisor, and Patrick Foley, Associate.
NeighborMD is a primary care and Medicare Advantage business located in Plantation, Florida, providing primary care services to over 5,000 lives at nine clinic locations. With over fifteen providers throughout Florida, NeighborMD has a highly reputable track record of delivering excellent patient care combined with robust technology and a defining goal of patient-first connections. The company is aligned in its effort to provide trusted primary care services and is heavily focused on value-based care through deep relationships with blue-chip payers and regional providers.
David Romanello, Chief Operating Officer of NeighborMD, said, “Cross Key’s advisement and transaction expertise played an integral role throughout the entire process. We look forward to the continued enhancement of the comprehensive services and managed care programs in our partnership with the Skylight team.”
Bill Britton, Managing Director of Cross Keys Capital, noted, “The NeighborMD and Skylight Health Group partnership will build upon a strong and strategic, community-based platform that will continue to provide excellent patient-centric primary care.”
About Cross Keys Capital
Cross Keys Capital is a leading middle market investment bank focused on delivering maximum value for its clients. Headquartered in Fort Lauderdale, FL, with a team of 25 professionals, Cross Keys provides its clients with a full suite of investment banking advisory services including sell-side and buy-side M&A and restructurings. With a national presence, Cross Keys has executed over 200 transactions in recent years. The firm has expertise across a variety of industries including business services, environmental services, financial and insurance services, healthcare, industrial services, logistics, manufacturing, telecommunications, media and technology, and value-added distribution. Cross Keys’ fully dedicated healthcare team has completed advisory transactions in many healthcare sectors including allergy & ENT, anesthesiology, behavioral health, cardiology, dental, dermatology, health plans & Network Services, home health, multi-specialty PPM, oncology, ophthalmology, orthopedics, primary care, radiology, surgery centers & urgent care, urology, and women’s health. For more information on Cross Keys’ perspectives on M&A or recapitalizations, please visit our website at www.ckcap.com or contact Bill Britton, Co-Founder and Managing Director, at 954-779-3195.
About Skylight Health Group
Skylight Health Group (NASDAQ:SLHG; TSXV:SLHG) is a healthcare services and technology company working to positively impact patient health outcomes. Skylight Health Group operates a US multi-state primary care health network comprised of physical practices which provide a range of services including primary care, sub-specialty, allied health, and laboratory/diagnostic testing. Skylight Health Group is focused on helping small and independent practices shift from a traditional fee-for-service (FFS) model to value-based care (VBC) through tools which include proprietary technology, data analytics, and infrastructure. In an FFS model, payors (commercial and government insurers) reimburse on an encounter-based approach. This puts a focus on the volume of patients per day. In a VBC model, the providers offer care that is aimed at keeping patients healthy and minimizing unnecessary health expenditures that are not proven to maintain the patient’s well-being. This places an emphasis on quality over volume. VBC leads to improved patient outcomes, reduced costs of delivery, and drives stronger financial performance from existing practices.
