Humana Inc. (NYSE: HUM) has announced the completion of the acquisition of Family Physicians Group (FPG). Headquartered in Orlando, Florida, FPG is one of the largest at-risk providers serving Medicare Advantage and Managed Medicaid HMO patients in Greater Orlando with a footprint that includes 22 clinics located in Lake, Orange, Osceola and Seminole counties.
"We are privileged to welcome the outstanding clinicians who make up Family Physicians Group to Humana," said Renee Buckingham, Humana's Segment President, Care Delivery. "Their commitment and expertise in caring for the people of Central Florida, especially seniors with chronic conditions, aligns perfectly with Humana's own dedication to helping our Medicare, Medicaid, and commercial members achieve their best health."
FPG currently provides care for over 22,000 Medicare Advantage patients, including nearly 4,000 Humana members. Additionally, FPG also serves over 21,000 patients in other lines of business including Medicaid, Medicare Fee-For-Service, and commercial. FPG is accredited by the National Committee for Quality Assurance as a Level III Patient-Centered Medical Home and has been recognized for its diabetes and heart/stroke clinical programs.
The acquisition of FPG advances Humana's strategy of helping physicians and clinicians evolve from treating health episodically to managing health holistically. Humana values clinical leadership and the critical role physicians play in achieving improved health outcomes for patients, reducing medical expenses and transforming health care nationally.
"We are pleased with our achievements and are committed to continuing the quality care we provide to our patients across all our payer partners," said Betty Assapimonwait, Chief Executive Officer of FPG, who along with her leadership team, will continue to operate FPG as a payer-agnostic physician group serving multiple health plans. FPG utilizes a comprehensive care management model and proactive medical management initiatives to improve patient outcomes and make health care more affordable.
"Family Physicians Group has a long history of providing integrated, value-based care to the patients they serve throughout the Greater Orlando market. We believe their payer-agnostic model and focus on value based care makes FPG an ideal fit to anchor our primary care business in Orlando," Buckingham added. "We are actively expanding our primary care model and are committed to creating a national footprint of high-performing, senior-focused primary care physicians. FPG advances this strategy in Central Florida. It will remain focused on delivering clinical excellence through its strong, highly qualified and engaged team to all Central Florida patients, regardless of their health plan affiliation."
The transaction was completed on April 10, 2018 and financial terms were not disclosed. The acquisition of FPG is not expected to have a material impact on Humana's 2018 financial guidance.