Investors Continue to Focus on Urgent Care Sector: Three Recent Notable Transactions

Three Recent Notable Transactions

October 5, 2012

The urgent care industry is a rapidly growing healthcare sector that provides cost-effective, convenient medical services for low- to mid-acuity illness or injury. Growth of the urgent care industry has garnered strong buyer and investor interest. According to research analysts at BB&T Capital Markets, the urgent care industry ranked among the top five areas of interest for private equity investors in 2011.

Following are three notable investments made by private equity investors in this sector:

  1. In July 2012, LLR Partners and WellPoint, Inc., made a growth capital investment of an undisclosed amount in Physicians Immediate Care, LLC, which provides management services to 20 independently owned urgent care clinics in Illinois, Nebraska and Oklahoma. McGuireWoods LLP represented Physicians Immediate Care in the transaction.
  2. Ridgemont Equity Partners acquired a majority stake in Hometown Urgent Care, a Columbus, Ohio-based operator of 25 walk-in urgent care clinics. The transaction closed on June 12, 2012. The financial terms of the deal were not disclosed.
  3. In April 2012, MD Now Medical Centers, Inc. (MD Now Urgent Care) of West Palm Beach, Florida, announced a growth capital investment from a private equity partner, Brockway Moran & Partners, Inc., to position itself for continued growth. The amount of the investment was not disclosed.