A 2014 whitepaper from McGuireWoods and the Urgent Care Association of America predicted that the urgent-care industry will continue to surge, estimating that some large metropolitan areas could support two to three times the number of current urgent-care providers than they do now (or at least in 2014).
There’s a sign of this in Revelstoke Capital Partners’ recent acquisition of SCP Urgent Care, doing business as Fast Pace Urgent Care.
From Becker’s Hospital Review, here are seven things to know about the transaction in particular and urgent-care centers’ growth in general.
“One of the players in the transaction is Brentwood, Tenn.-based Fast Pace, a provider of urgent-care and primary-care services. Since 2013, the company has grown from seven clinics in Tennessee to 36 clinics in Tennessee and Kentucky. The growth came primarily through opening 26 new locations and acquiring three locations. Fast Pace is a portfolio company of Shore Capital, a Chicago-based private equity firm focused exclusively on microcap healthcare investments. The other player in the transaction is private-equity firm Revelstoke, which focuses on building healthcare and business-services companies.”
In other notable recent transactions:
Last November, Nashville-based Hospital Corporation of America bought Urgent Care Extra’s Nevada operations, which include 14 urgent-care centers in Las Vegas.
In February, San Francisco-based Dignity Health said it was teaming with Atlanta-based in a venture to bring consumer-focused urgent care to the Bay Area.
In August 2015, Boston-based Partners HealthCare announced plans to open as many as 12 urgent-care clinics.
Becker’s noted that these investments are driven partly by the large numbers of active patients older than 50 who want more convenient care for injuries and illness while being linked to larger systems where their regular physicians may practice and where visits to urgent-care clinics can become part of their medical record.
To read a McGuireWoods white paper on this, please hit this link.
To read a Becker’s Hospital Review overview on this, please hit this link.