NEW YORK & MIAMI – (BUSINESS WIRE) –Deerfield Healthcare Technology Acquisitions Corp. (“DFHT”) (NASDAQ: DFHT; DFHTW; DFHTU), A special purpose acquisition company sponsored by a subsidiary of Deerfield Management Company, LP (“Deerfield”) and Richard Barasch, a veteran healthcare public company board of directors and investors, announced today that DFHT shareholders have voted on all related proposals Approve a proposed business combination with CareMax Medical Group LLC (“CareMax”) and IMC Medical Group Holdings LLC (“IMC”) to create a technology-enabled care platform that provides value-based care and chronic disease management for seniors. The management board of DFHT had previously approved the business combination and recommended that its shareholders vote for it and all motions related to the business combination. There were no purchases by DFHT shareholders in connection with the business combination.
In addition to approving the business combination, DFHT shareholders agreed to proposals: (i) the issue of certain securities in connection with the business combination under the Nasdaq licensing rules; (ii) amend and reformulate DFHT’s amended and reformulated Articles of Incorporation to, among other things, change the name of DFHT to CareMax, Inc. and increase the total number of authorized shares of all classes to 261,000,000; and (iii) approve the Company’s 2021 Long Term Incentive Reward Plan.
Richard Barasch, Chairman of DFHT and future Executive Chairman of CareMax, said, “I have spent much of my career working with primary care physicians to improve health outcomes in a more cost-effective way. We believe the business combination with CareMax will allow this model to be extended to more seniors across the country. ”
Carlos de Solo, CareMax’s Chief Executive Officer, was similarly excited about the future. “We have spent the last decade building a replicable business model to deliver medical care to the underserved while delivering strong results to our shareholders. We believe that the merger with DFHT will give us the capital to drive our national expansion. ”
The business combination is expected to close on or about Tuesday, June 8, 2021. Upon completion, CareMax and IMC will become wholly owned subsidiaries of DFHT, which will be renamed CareMax, Inc. (“CareMax”). The combined and renamed company anticipates that its Class A common stock and public warrants will trade under the new trading symbols “CMAX” and “CMAXW” on the Nasdaq Global Select Market on or about Wednesday, June 9, 2021.
About Deerfield Healthcare Technology Healthcare Acquisitions Corp.
Deerfield Healthcare Technology Acquisitions Corp. is a blank check company whose business purpose is to conduct a merger, capital exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more companies. The company is sponsored by a subsidiary of Deerfield Management Company, LP, an investment firm focused solely on the healthcare industry, and Richard Barasch, a veteran healthcare executive and investor.
CareMax is a technology-enabled care platform that provides seniors with value-based care and chronic disease management. Upon completion of the business combination with DFHT, the company will operate 26 wholly-owned medical centers that offer a full range of health and social services, as well as a proprietary software and service platform that provides data, analytics and rule-based decision-making tools for physicians in the United States.
This press release contains certain statements that are not historical facts but forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Can”, “will”, “estimate”, “continue”, “foresee”, “intend”, “expect”, “should”, “would”, “plan”, “predict”, “potentially” “appear” , “Search”, “future”, “outlook” and similar expressions that predict or indicate future events or trends, or that are not statements of historical matters. These forward-looking statements include, among other things, statements about the business combination that will enable the expansion of the combined CareMax business model, the expectation that the combined company’s Class A common stock and public warrants will be listed on the Nasdaq upon completion, the expected completion date of the business combination and the date on which the Class A common shares and public warrants commence trading. These statements are based on various assumptions and current expectations of the management of DFHT, CareMax management, and IMC management and are not predictions of actual performance. These forward-looking statements are presented for illustrative purposes only and are not intended as a guarantee, assurance, prediction or final statement of fact or probability and should not be relied upon as such by any investor. Actual events and circumstances are difficult or impossible to predict and will differ from the assumptions. Many actual events and circumstances are beyond the control of DFHT, CareMax, and IMC. These forward-looking statements are subject to a number of risks and uncertainties, including the outcome of legal and administrative proceedings in which CareMax or IMC may be involved or government investigations into which CareMax or IMC is subject and which could interrupt or restrict the operations of CareMax or IMC IMC leads to negative judgments, settlements, or fines and generates negative publicity; Changes in the preferences, prospects, and competitive conditions of CareMax or IMC customers; Failure to realize the anticipated benefits of the business combination, including due to a delay in completing the business combination or a delay or difficulty in integrating the businesses of DFHT, CareMax and IMC; the amount of redemption requests from DFHT shareholders; those factors discussed in DFHT’s proxy statement in relation to the business combination, including those listed under “Risk Factors” therein, and other DFHT filings with the SEC. Should the risks materialize or assumptions prove to be incorrect, the actual results may differ materially from the results implied in these forward-looking statements. There may be additional risks that neither DFHT, CareMax nor IMC are currently aware of or that DFHT, CareMax and IMC currently consider to be immaterial and which could also mean that the actual results differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect the expectations, plans or projections of future events and views of DFHT, CareMax and IMC as of the date of this press release. DFHT, CareMax and IMC assume that subsequent events and developments will change the assessments of DFHT, CareMax and IMC. DFHT, CareMax and IMC expressly disclaim any obligation to update these forward-looking statements in the future. These forward-looking statements should not be taken as representing the views of DFHT, CareMax and IMC as of any time after the date of this press release. Accordingly, you should not place undue reliance on any forward-looking statements.