Benzinga | May 25, 2021 04:26PM EDT

P3 Health Partners to Become Publicly Traded via Merger with Foresight Acquisition Corp.; Estimated Post-Transaction Enterprise Value of $2.3B

- Transaction to Publicly List P3 Health Partners, a Patient-Centered and Physician-Led Population Health Management Company Delivering Value-Based Care -

- Estimated Post-Transaction Enterprise Value of $2.3 Billion With Over $180 Million in Cash to Fund Growth -

- Transaction Includes an Over $200 Million Fully Committed Common Stock Private Investment at $10 Per Share Including Participation From Funds and Accounts Managed by Fidelity Management & Research Company LLC and Janus Henderson Investors -

P3 Health Partners ("P3") and Foresight Acquisition Corp. (NASDAQ:FORE) ("Foresight") have entered into a definitive agreement which would result in P3 becoming a publicly listed company.

Upon closing of the transaction, the combined entity will be renamed P3 Health Partners and is expected to remain listed on the Nasdaq Capital Market.

P3 is a patient-centered and physician-led population health management company that supports providers, physicians, and practices in their journey from traditional volume-based models to value-based systems of care and wellness. P3 believes its extensive experience managing Medicare Advantage (MA) populations in global risk arrangements drives its differentiated model, which simultaneously improves care and decreases costs. P3 is a portfolio company of Chicago Pacific Founders who provided P3's initial and growth capital.

P3 Health Partners Investment Highlights

* Empowering Value-Based Care: Founded and led by physicians, P3 is a team of doctors, clinicians and support service professionals with a shared passion for delivering value-based care. P3 is dedicated to transforming healthcare for patients, providers, and payors with a proven physician-affiliated model that delivers high-quality, low-cost care to Medicare Advantage members.

* Large Addressable Market for Medicare Advantage Patients: Substantial market opportunity to partner with physicians & payors that serve the 60 million estimated Medicare eligible beneficiaries in P3's rapidly growing core $300 billion Medicare Advantage Market. P3 currently operates in 11 markets across four states and expects to add three to five new markets annually to drive 35% patient growth over the long-term through a mix of payor and provider opportunities.

* Rapidly Scalable, Capital-Light Model: P3's capital efficient growth approach leverages the existing installed physician base across the U.S., which enables accelerated market entry while maintaining the preexisting patient and physician relationship. P3 enters markets with payor and provider partnerships to rapidly scale member growth while developing a full network of primary care, specialty, and ancillary providers.

* Experienced Management Team: P3 was founded and is led by one of the most experienced management teams in population health. The core management team has a 20-year track record with deep value-based care expertise and a proven ability to build and scale value-based care platforms.