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Disease Firm's Workforce to Triple in a Year
Dallas-based company that focuses on preventive medicine such as wellness programs and outpatient diagnostic clinics has acquired Jacksonville-based Specialty Disease Management Services.
The acquisition by U.S. Preventive Medicine will be more than triple SDM's local workforce to about 60 in the next 12 months. The company headquarters will remain in Jacksonville, as well as its senior management, as well as Chief Executive Fred Goldstein.
The Financial terms of the deal were not disclosed.
According to U.S. Preventive President Brian Baum, acquiring SDM allows U.S. Preventive Medicine to offer disease management services.
Baum said that ideally, they want to keep us healthy to start with, but, if we by now have a chronic illness, they want to help us manage that illness.
The buyout gives SDM more capital to enlarge into new markets and a greater opportunity to sell to U.S. Preventive customers as per Goldstein.
SDM was awarded nearly $10 million to provide disease management services to Florida's 8,000 Medicaid beneficiaries with HIV/AIDS. However, an administrative law judge suggested last month that SDM's proposal be rejected and the two-year contract be rebid, because Florida's Agency for Health Care Administration does not have enough information to conclude whether the company had the money to execute the contract. AHCA has not made a decision on whether to rebid the contract.