OXIO Health, Inc.® (“OXIO”) announces today that Total Care Medical Group, Inc. (SM) (TCM), a subsidiary of one of its Portfolio companies, Total Care America(SM), Inc. (TCA), has executed a Letter of Intent (LOI) to acquire its first medical practice in Central Palm Beach County, Florida.The practice being acquired has served the primary care needs of an estimated 10,000 patients since it was founded in 2002 and is currently serving 1,500 patients of record. The practice is served by one (1) Board Certified Doctor of Osteopathic Medicine (DO), founder and owner/operator. The DO will continue to provide care post-acquisition, along with existing staff including a nurse (RN) and a nurse practitioner (ARNP). The DO will also join the OXIO Medical Executive Committee as Vice President of Medical Operations after acquisition is closed.
Scott Wolf, CEO of Grace Century, comments: “The COVID epidemic has catapulted the interest of practices to look at managed care as an alternative to running and owning their own entities. This is the first of 20 agreements planned for 2021 by our portfolio company OXIO Health, Inc.”