Practice Management
The for-profit Ardent Health system closed its initial public offering about a month ago and said in a press release that it intends to use the net proceeds from the offering for working capital and to acquire complementary businesses. As it turns out, Ardent is targeting urgent care investment as its “most immediate focus” for the second half of the year—both de novo and acquisition deals—according to Modern Healthcare. Already this year, the organization has …
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Earlier this month, ExperCARE announced its acquisition of MedCenter Urgent Care, adding several new locations to ExperCARE’s portfolio, while extending its reach into Alabama for the first time. Founded in 2002, MedCenter Urgent Care offers urgent care as well as family medicine. Backed by Seven Hills Capital since September of 2022, ExperCARE operates 7 other locations throughout the greater Savannah, Georgia, area. Acquisition deals: This transaction represents a follow-on urgent care asset for Seven Hills. …
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Saint Alphonsus Health System in Idaho is set to take over an ambulatory surgery center and 2 urgent care centers previously owned and operated by Intermountain’s Saltzer Health. Intermountain had planned to shut down Saltzer Health in Idaho by April if no buyer came forward, according to Healthcare Finance News. The health systems reportedly have been working together to solve the potential community access challenges that would have resulted from the multispecialty physician group ceasing …
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UT Health East Texas has completed the acquisition of 5 QuickVisit Urgent Care clinics plus a separate acquisition of the UT Health East Texas Urgent Care from Premier Health. According to a press release, patients who need follow-up care at these newly added sites will have a fast-track option to see a UT Health East Texas physician or affiliated specialist. It’s a model not uncommon among health systems to encourage loyalty by making it easy …
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Urgent message: While market conditions for mergers and acquisitions are currently “hot,” variability in urgent care volume attributable to COVID-19 has led to changes in how deals are evaluated and structured. Alan A. Ayers, MBA, MAcc is President of Experity Networks and is Senior Editor of the Journal of Urgent Care Medicine Nationally, merger-and-acquisition activity has set a record pace across all industries since the start of the pandemic. Corporations, private equity funds, and buyout …
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