US-based independent primary care provider network Aledade has announced a $500m senior secured credit facility from Ares Commercial Finance to support the company’s growth.

Led by Ares Credit funds, the facility doubles Aledade’s existing committed financing capacity and may expand to $650m.

Aledade is a national participant in the Medicare Shared Savings Program (MSSP), working with primary care organisations to help physicians transition to value-based care models.

In 2024, its MSSP Accountable Care Organisations (ACOs) generated savings of $1bn.

With the credit facility, Aledade will obtain working capital flexibility to manage its expenses and assist partners in shifting from fee-for-service to value-based care model.

The network currently works with more than 20,000 clinicians in 2,400 practices and community health centres at 46 states, delivering value-based care programmes to almost three million Medicare patients.

Aledade co-founder and CEO Farzad Mostashari said: “This working capital facility provides Aledade with the flexibility to bridge the natural timing gap in Medicare payments and the capacity to expand as we continue to scale our business.

“This allows us to accelerate shared savings distributions to our clinician partners, enabling them to reinvest in their patients and practices sooner to sustain our momentum in value-based care.”

Ares Commercial Finance managing director Todd Gordon said: “We are excited to support Aledade’s growth plans as its sophisticated technology continues to enable the expansion of value-based primary care on a national level to the benefit of patients and physicians while helping to drive savings for the Centers for Medicare and Medicaid Services.”