VGTeL, Inc. is pleased to announce that it has merged with Strategic Healthcare Alliances, LLC.
NEW YORK, NY / ACCESSWIRE / April 10, 2020 / Strategic Healthcare Alliances. LLC is currently doing business in New York City. Strategic Healthcare Alliances, LLC's mission is to acquire primary care physician practices, aggregating a significant number of health plan members assigned to the practices as the member's PCP. They will then negotiate value-based contracts providing the company with global risk contracts, which pay a high percentage of the total premium as revenue, with the health plans who have members assigned to the physicians in the practices acquired. Through the practice management team's broad and deep experience managing primary care practices, significant economies of scale will be achieved through operational activity consolidation.
Strategic Healthcare Alliances, LLC also contains a managed care management team of former health plan executives, CEOs, COOs, CFOs, CMOs, as well as VP level executives. This team will engage with their health plan counterparts, demonstrating significant experience in managing the cost of care, and securing global risk contracts, generating revenues based on a significantly high percentage of the total premium for each member. The initial membership aggregation is expected to result in care management revenues in excess of $100 million, generating a significant additional profit for the company, expected to double the EBDITA of the company with a small additional investment, since the members are already assigned to the primary care physicians of the consolidated group.
Strategic Healthcare Alliances, LLC. plans to implement its mission by leveraging the already existing relationships of its management teams, engaged at the appropriate times, first practice management then managed care management.
Pursuant to the Acquisition and Merger Agreement, a new class of preferred shares will be issued by VGTeL Inc. (OTC PINK:VGTL) as consideration for the acquisition of 96% of Strategic Healthcare Alliances, LLC's issued and outstanding shares. In addition, Mark B. Newbauer will Immediately resign as CEO but remain as on officer and director for a three-month period to assist in the transition.
Kerry A. McDonald will be the new CEO of both VGTeL Inc. (OTC PINK:VGTL) and Strategic Healthcare Alliances, LLC. His impressive resume includes: more than 30 years' healthcare experience at the executive management level including: CEO Magellan Complete Care of Florida, where he planned and executed a financial and operational turnaround, improving from a $47.5 million loss in 2015 to a $45.8 million profit in 2016, just 13 months, becoming profitable in 6 months, he was the start-up CEO of a Medicare Advantage plan, (Liberty Health Advantage); VP of Regional Operations for a managed Medicaid payer in NY and NJ (Americhoice); and the COO of a TennCare PHO, a cost of care management company paid a high percentage of total premium per member (THP). He has extensive experience managing health plan operations including financial services and information support systems. During his career, Kerry led the implementation of a new Amsys claims system and was a leader in the turnaround of an 85k member book-of- business, going from a $30 million loss to a $2.5 million profit, after a 90-day implementation period. Additionally, he conceptualized/implemented a complex rate analysis for UnitedHealth Group that enabled the network management team to re-contract with more than 20k providers which resulted in an annual savings of more than $11M for their New York managed Medicaid plans. Kerry has led the IT implementation of many software system projects unique to health plans, by building teams of people to accomplish these tasks while achieving significant financial results in extremely short time frames.
Kerry holds a BA in finance, and an MS degree in Analytics and Knowledge Management from Notre Dame of Maryland University. He also was a hospital corpsman in the US Navy.
Mark Newbauer, former CEO of VGTeL Inc., states, "this merger will make all stakeholders extremely pleased. Strategic Healthcare Alliance's management teams are second to none which means that they will be a dominant force in the healthcare system management industry."
Kerry McDonald, CEO of VGTeL Inc., excitedly states, "I was impressed with VGTeL's growth which shows the expertise of Mark Newbauer and his management team. I will be bringing the company current in its filings so shareholders can feel the full realization of our rapid growth through the acquisition of Strategic Healthcare Alliances."
Updates will be forthcoming
Forward-Looking Statements:
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SOURCE: VGTel, Inc.