Chapcare Acquired By AltaMed; Money Details Confidential
AltaMed Health Services Corp., a federally qualified health center situated in the City of Commerce, has acquired the Community Health Alliance of Pasadena, a federally qualified health center catering to patients in Pasadena and the San Gabriel Valley.
AltaMed is one of the largest federally qualified community health centers in the country, with over 50 facilities spread across Los Angeles and Orange counties.
Chapcare, also known as the Community Health Alliance of Pasadena, operates eight clinics that provide medical, dental, behavioral health, and pharmacy services to about 18,000 patients, irrespective of their financial situation.
AltaMed provides pediatric care in addition to the same suite of services to over 500,000 patients in Los Angeles and Orange counties, regardless of the patient’s financial situation. The deal’s financial terms were not made public.
Regardless of a patient’s financial situation, federally qualified health centers offer care to underserved and low-income communities. The center operators get more federal funding as well as increased Medicaid and Medicare reimbursements in return.
The announcement of the acquisition was announced on 1st November. Following the announcement, AltaMed’s Chief said, “As the demand for affordable health services continues to grow in Los Angeles, AltaMed is proud to continue to serve people in Pasadena and the San Gabriel Valley.”
The acquisition will have many benefits for people of all age groups residing in or around Pasadena and the San Gabriel Valley. They will have access to Children’s Hospital in Los Angeles as well as other pediatric services by AltaMed.
