ABQ Health Partners was paid $73.1 million in cash under terms of its deal to merge last month with HealthCare Partners LLC, a Torrance, Calif., medical practice, according to documents filed with the U.S. Securities and Exchange Commission.
The 184-physician Albuquerque medical practice could earn another $70 million if it meets certain benchmarks. The filing does not specify what those benchmarks are.
Members of ABQ Health Partners were originally part of the Lovelace Health System’s medical group. Lovelace set the group up as a private practice in 2007 after years of conflict between physicians and Lovelace following the system’s 2002 acquisition by Ardent Health Services, a privately held Nashvillebased hospital operator.
HealthCare Par tners, which has 8,300 physicians, is being acquired for $4.42 billion by a Denver-based kidney dialysis provider, Davita Inc.
Davita reported revenue of almost $7 billion last year.