HealthLynked (OTCQB:HLYK) Corp. has announced that its subsidiary ACO Health Partners LLC will receive $2.4 million in Medicare Shared Savings from the Centers for Medicare & Medicaid Services (CMS).
The company said the money represents a 213% increase over the $768,000 in shared savings that ACO Health Partners received the previous year.
HealthLynked purchased ACO Health Partners in May 2020 and since has seen substantial increases in both shared savings and the number of attributed Medicare lives.
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The payment for the annual shared savings from CMS is expected at the end of September or early October.
"We are very pleased with the performance in ACO Health Partners since we acquired the company,” said George O'Leary, CFO and head of M&A for HealthLynked, in a statement.
“HealthLynked expects to see Q3 2021 revenue of approximately $4M or about 66% of its total 2020 annual revenue of $6.1M."
Marsha Boggess, president of ACO Health Partners, added: "Since the acquisition of ACO Health Partners, we have seen a significant increase in our quality measures, which is a key contributor to our enhanced performance in shared savings."
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