BOSTON--(BUSINESS WIRE)--Arches Medical Partners (AMP), a Boston-based medical group management company, has successfully acquired the primary care practices in Rhode Island previously owned by VillageMD. This strategic move establishes AMP’s presence in the Providence metro area, while benefiting approximately 75,000 patients to continue their access to high-quality care with their experienced providers.
Practice Locations: AMP now employs fifty PCPs, and operates eight office locations and three urgent care centers in Rhode Island.
Physician-Driven Approach: AMP is owned and advised by physicians with decades of experience serving patients and managing primary care businesses.
Community-Based Impact: AMP believes that community-based Independent Practice Associations (IPAs) play a crucial role in driving necessary changes in healthcare financing and delivery.
Patient-Centric Focus: AMP aims to provide a personalized, concierge-like experience for patients through its primary care providers.
Cutting-Edge Technology: AMP deploys its wholly-owned technology subsidiary, New Era Medical Operations (NEMO) software, to enable IPAs to negotiate and manage global risk contracts. NEMO also serves to ‘demystify’ risk for participating physicians, physician assistants, and nurse practitioners.
Equity Opportunities: Independent-minded primary care providers partnering with AMP can benefit from equity opportunities while prioritizing patient outcomes.
Transition to Value-Based Care: The company actively seeks practices aligned with the shift from fee-for-service to global risk contracting for patients covered by Commercial, Medicare, and Medicaid plans.
“We all know how broken the system is. Arches Medical is looking for PCPs who want better options for themselves and for their patients,” said Chris Kryder M.D., CEO of Arches. “We are excited about establishing new solution for our patients and creating this nucleus of primary care in Rhode Island. We expect to grow organically and quickly.”
Kryder, along with partners Todd Stockard, Manoj Mathew M.D., and Carlos Rivera, formed Arches Medical Partners in 2023.
Terms of the transaction remain private. Sidley provides the Company’s legal representation.
