CareConnectMD Wraps $25M Funding Round; VIUM Capital Closes $1.1B in Deals in Q2

The investment will be used to deepen the company’s presence in California, Ohio and Texas, in addition to expanding into other markets, according to a news release. CareConnectMD provides primary and palliative care to high-risk populations in care environments such as the home and skilled nursing facilities.

CareConnectMD is currently one of only eight high-needs Direct Contracting Entities (DCE) selected by the Centers for Medicare & Medicaid Services (CMS) to participate in the recently rebranded Accountable Care Organization Realizing Equity, Access, and Community Health program (ACO REACH).

“We’ve developed a highly repeatable care model that has proven to improve both care and quality of life while also reducing costs. And as one of just eight high-needs DCEs in CMS’s new program, we now have the opportunity to revolutionize care delivery by allowing providers and facilities to enter into value-based contracts,” Kim Phan, founder and CEO of CareConnectMD said in the release.

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Dawn Owens, CEO and Partner of TT Capital Partners, will join the company’s board of directors as part of the investment.

Chicago-based Ziegler acted as a financial advisor to CareConnectMD.

VIUM Capital Sees $1B, 26 Transaction 2Q

VIUM Capital closed 26 transactions in the second quarter of 2022 totaling $1.1 billion.

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Some of the deals VIUM completed included bridge and permanent debt financing projects in 15 states across the country.

“We closed a diverse set of health care and seniors housing projects through direct balance sheet loans, our debt fund and permanent HUD-insured financing,” VIUM partner and co-founder Steve Kennedy said in a news release.

VIUM expanded its offering this year with a health care debt fund in conjunction with its joint venture partner Merchants Capital.

The firm’s 2022 first half volume totaled nearly $1.4 billion over 44 loans.

Dwight Mortgage Finances $27M for Florida SNF

Dwight Mortgage Trust, the mortgage REIT affiliate of Dwight Capital, provided a $27.25 million bridge acquisition loan for Beachside Center for Rehabilitation and Healthcare, a 239-bed skilled nursing facility located in New Smyrna Beach, Fla.

The loan has a 30-month term and will be used for capital expenditures and the acquisition.

Dwight’s Josh Sturm originated the closing.

Blueprint Executes 6 Pennsylvania SNF Sale

A public real estate investment trust (REIT) and its operating partner completed the sale of a 453-bed portfolio, including 28 personal care home beds, located in western Pennsylvania, Blueprint announced this week.

The portfolio was a value-add opportunity for the buyer as well as a chance to capitalize on strong historical performance and potential rate growth in submarkets with limited competition.

Blueprint received multiple offers for the portfolio and ultimately selected a buyer looking to establish their footprint in the region.

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