American Family Care, operator of urgent care, primary care, and occupational medicine clinics, announced the closing of an equity investment by Lorient Capital, a firm that has a number of healthcare investments in its portfolio. Lorient Capital officials said in a press release that American Family Care has dozens of new locations in the pipeline across the United States, and its financial backing and experience will support ongoing growth strategies. Founded in 1982, American Family …
Read MoreOregon Seeks to Limit PE Ownership of Urgent Cares
In Oregon, proposed legislation could dramatically limit corporate ownership of primary care, specialty, and urgent care clinics. Proponents say they’re concerned about the potential quality issues, staff reductions, increased costs, and the “depersonalization” of ownership they believe comes with private equity control, according to an article by Oregon Public Broadcasting. The bill’s language builds on existing rules in the state and would require clinics with corporate ownership to ensure the majority owners (51%) are physicians. …
Read MoreBaptist Memorial JV Opens 10 Centers
Baptist Memorial Health Care recently announced the opening of 10 new urgent care (UC) centers in Tennessee, Mississippi, and Arkansas under the Baptist Urgent Care flag. The UC organization is a joint venture partnership between Baptist Memorial Health Care and the Urgent Team Family of Urgent Care & Walk-In Centers. According to a press release, the centers are accredited by the Urgent Care Association. Urgent Team operates 85 total centers offering urgent care, primary care, occupational, specialty …
Read MorePrivate Equity Stake in Urgent Care Grows with CityMD Acquisition
Urgent care operator CityMD’s steady expansion in the New York metropolitan area has made it an appealing prospect for private equity, with Warburg Pincus LLC said to be putting down $600 million to bring it into its healthcare fold. CityMD has some 68 locations currently, after starting with a single New York City center in 2010. The company bought one of its competitors, Premier Care, but also built new locations as part of its growth …
Read MoreTo P.E. or not to P.E.
John Shufeldt, MD, JD, MBA, FACEP In last month’s column, I presented an overview of capital sources that can be used to fund your urgent care start-up or expansion. This month I will discuss the different sources of debt and equity capital. Much of the decision regarding which capital source is best for you is determined by your stage of development. For a startup, you will probably have to use traditional bank debt or raise …
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