FastMed Urgent Care, which is backed by ABRY Partners has acquired Texan Urgent Care, an urgent care operator. No financial terms were disclosed.
PHOENIX, Dec. 18, 2015 /PRNewswire/ — FastMed Urgent Care, the second largest and fastest growing independent urgent care organization in the U.S., today announced the acquisition of Texan Urgent Care, a 14-clinic urgent care operator with locations in the Austin, San Antonio, Tomball and Waco metropolitan areas. FastMed operates more than 100 clinics across Arizona, North Carolina and Texas, providing urgent care and occupational health services.
“We are excited to augment our business by having Texan Urgent Care join the FastMed organization in providing our unique brand of industry-leading, quality, affordable healthcare,” said Kyle A. Bohannon, President and CEO of FastMed Urgent Care. “I am confident that together, we will accomplish our mission of positively impacting the lives of patients and their families throughout the state of Texas.”
Comprised of a network of board-certified physicians and licensed physician assistants and nurse practitioners, FastMed will treat more than one million patients in 2015. FastMed, in partnership with majority shareholder ABRY Partners, a leading private equity firm, is committed to clinical, financial and operational leadership in the urgent care sector.
“We are thrilled to support FastMed’s initial foray into the Texas market,” said Brent Stone, a Partner at ABRY Partners. “ABRY is fully committed to providing all resources necessary to develop the largest and highest quality urgent care operation in the state of Texas.”
FastMed is the largest company in the urgent care industry to have achieved the Joint Commission Gold Seal of Approval® for accreditation in health care quality and safety in ambulatory health care. As part of FastMed, former Texan Urgent Care locations will now have this accreditation and the benefit of the growth momentum and strategic expertise of the FastMed and ABRY leadership teams.
“We are delighted to join FastMed, a company that shares our commitment to providing high quality urgent care to patients,” said Ashish Singhal, MD, Founder of Texan Urgent Care. “We are inspired by the FastMed mission, and our providers and staff are excited to develop the preeminent urgent care platform across Texas.”
About FastMed Urgent Care
FastMed Urgent Care is an owner and operator of urgent care facilities with more than 100 locations across Arizona, North Carolina and Texas. FastMed focuses on the delivery of walk-in medicine for non-emergent healthcare needs 365 days per year through licensed physicians, physician assistants and nurse practitioners. FastMed clinics hold the Joint Commission Gold Seal of Approval® for accreditation in health care quality and safety in ambulatory health care. FastMed is managed by an affiliated entity of one of the investment funds of ABRY Partners www.FastMed.com.
About ABRY Partners
Founded in 1989, ABRY Partners is one of the most experienced and successful media, communications, business and information services-focused private equity investment firms in North America. Since its founding, ABRY has completed more than $42 billion of transactions, representing investments in more than 450 properties. The firm is currently managing more than $4.3 billion of total capital and investing out of a $1.9 billion private equity fund, $950 million senior equity fund and a $1.5 billion senior debt fund www.ABRY.com.
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