Page 1

Caremax Exhibit 99.1 CareMax Inc. Announces Second Quarter 2021 Financial Results Miami , FL - August 13 , 2021 -- CareMax , Inc. ( NASDAQ : CMAX ; CMAXW ) , a leading technology - enabled provider of value - based care to seniors , announced today financial results for the second quarter ended June 30 , 2021 . Business Highlights Announced collaboration with Anthem described in separate press release issued earlier today Entered into agreement with The Related Companies , a leading national affordable housing developer , to support CareMax in opening centers inside or near affordable senior housing nationwide Anticipate opening at least 75 new CareMax centers over the next three years Completed the acquisition of Senior Medical Associates ( SMA ) and entered into a definitive agreement to acquire DNF Medical Centers , expanding our penetration in Central Florida Scheduled Investor Day to discuss key growth strategies on September 9 , 2021 at 9:30 am ET Second Quarter 2021 Results ¹ GAAP total revenue was $ 44.9 million for the second quarter of 2021 and $ 72.8 million for the first half of the year . GAAP net loss was $ 7.4 million for the second quarter of 2021 , or $ 0.26 per diluted share , and $ 13.4 million , or $ 0.31 per share , for the first half of the year . On a pro forma basis , total revenue was $ 97.8 million for the second quarter of 2021 and $ 193.2 million for the first half of the year . Adjusted EBITDA² was $ 1.5 million for the second quarter of 2021 and $ 10.2 million for the first half of 2021. Direct COVID headwinds accounted for an approximately $ 11 million reduction in adjusted EBITDA . Medical expense ratio was 80.7 % for the second quarter of 2021 and 76.3 % for the first half of the year . The Company ended the quarter with approximately 61,500 total members and 21,500 Medicare Advantage members , not including the more than 4,000 members from the planned acquisition of DNF Medical Centers . As of June 30 , 2021 , the Company operated 34 medical centers , with two additional centers in progress and slated to open in 2022. Six additional centers are anticipated to be added as part of the planned acquisition of DNF Medical Centers . ¹GAAP presentation is for CareMax Medical Group and includes the financial information and activities for IMC for the period from June 8 , 2021 ( the closing of the business combination ) to ( and including ) June 30 , 2021 ( 23 days ) . Pro forma and other non - GAAP information gives effect to the business combination and the acquisition of SMA as if the transactions had occurred in historical periods . 2Adjusted EBITDA and medical loss ratio are non - GAAP financial metrics . A reconciliation of non - GAAP metrics to GAAP financial statements is included in this release .