AvMed has been acquired by Sentara Healthcare
Mergers & Acquisitions
|Client & Transactional Partners||
Court Houseworth | Stacy Guffanti
Cain Brothers, a division of KeyBanc Capital Markets, served as exclusive financial advisor to AvMed Inc., a not-for-profit health plan in Florida, on its acquisition by Sentara Healthcare, one of the largest not-for-profit integrated health care delivery systems in the U.S. Mid-Atlantic region. Previously owned by SantaFe Healthcare, the transaction for AvMed was closed on December 31, 2022.
Cain Brothers was engaged to serve as exclusive financial advisor to AvMed and SantaFe Healthcare based on its deep expertise and experience in the managed care sector, especially within the not-for-profit space, as well as its long-standing relationship with SantaFe Healthcare and AvMed. The Cain Brothers team executed a targeted and highly competitive process to identify the optimal partner for AvMed.
AvMed is a Florida-based health plan headquartered in Miami. More than 200,000 members count on AvMed for commercial group, individual and Medicare Advantage coverage. Members have the support of nearly 500 employees and a network of more than 35,000 providers.
Sentara Healthcare celebrates more than 130 years in pursuit of its mission – “we improve health every day.” Sentara is a not-for-profit integrated health care delivery system with approximately 30,000 employees (including 1,375 physicians and advanced practice providers), 12 hospitals in Virginia and Northeastern North Carolina and the Sentara Health Plans division which serves over 1.2 million members. Sentara is recognized nationally for clinical quality and safety, and is strategically focused on innovation and creating an extraordinary health care experience for our patients and members. Sentara was named to IBM Watson Health’s “Top 15 Health Systems” in 2021 and 2018, and was recognized by Forbes as a “Best Employer for New Grads” and “Best Employer for Veterans” in 2022, “Best Employer for Women” in 2020, and one of “America’s Best Employers” in 2018.