Related Cos., CareMax partner on senior health centers in city's underserved communities

Real estate developer The Related Cos. has acquired as much as a 9% stake in Miami-based senior primary care provider CareMax to help it expand to New York City and other underserved urban communities, the companies announced Tuesday.

Related, which is based in Hudson Yards, bought $5 million worth of CareMax stock, priced at $10 per share, and received warrants to buy an additional 8 million shares at $11.50 per share.

The capital will enable CareMax to open at least 15 medical centers next year, starting with three locations in Manhattan, Queens and the Bronx. Two will be in Related-owned properties—the Bronx Terminal Market in Grand Concourse and Ocean Park

→ Continue reading at Crain's New York Business

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