FCHS
Industry:
Healthcare Providers & Services

DESCRIPTION

First Choice Healthcare Solutions (FCHS) is a small Florida-based healthcare company rebuilding itself after a 2020 bankruptcy. FCHS is pivoting away from its legacy orthopedic clinic business toward building a national chain of primary care and wellness clinics under the "Live Well MD" brand, staffed primarily by Nurse Practitioners. The clinics are designed to serve two revenue streams: insurance-reimbursed primary care visits (billed to Medicare, Medicaid, commercial insurers, and TRICARE) and higher-margin, self-pay wellness services including hormone replacement therapy, medical weight loss, peptide therapies, regenerative medicine, and medi-spa treatments. Alongside the clinic network, FCHS is acquiring a compounding pharmacy in Florida to supply custom-formulated medications directly to clinic patients, capturing both the clinical and pharmaceutical margin. FCHS argues that using Nurse Practitioners rather than physicians provides a roughly 25% labor cost advantage, while CMS reimburses Nurse Practitioners at 85% of physician rates. The near-term growth plan is to open three clinics by end of 2026, with a longer-term target of 30 clinics over five years, initially focused on Florida and Minnesota. As of the filing, FCHS has one full-time employee and seven contractors, its acquisitions have not yet closed, and the company is pre-revenue in its new strategy, carrying an accumulated deficit of approximately $74.7M.

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