CRG has provided financing to Fast Pace Urgent Care, a provider of urgent care clinics across rural Tennessee, Kentucky, and Mississippi. No financial terms were disclosed. The capital was used to refinance Fast Pace, which is backed by Revelstoke Capital Partners.
NEW YORK, June 6, 2018 /PRNewswire/ — CRG, a leading healthcare investment firm, today announced a partnership with Fast Pace Urgent Care (“Fast Pace”), a leading provider of urgent care clinics across rural Tennessee, Kentucky, and Mississippi, and its private equity sponsor Revelstoke Capital Partners (“Revelstoke”), a Denver-based private equity firm. The transaction resulted in a refinancing that provided additional capital for continued growth of Fast Pace.
“Fast Pace’s growing footprint and highly differentiated business model provide underserved rural populations with access to high quality, affordable healthcare,” said Scott Li, Principal at CRG. “The Company has a clear value proposition for all constituents, including providers, health plans, and most importantly, patients and their families. We are excited to partner with the Fast Pace team and their supportive investors at Revelstoke, with whom we share a passion for making our healthcare system more efficient and improving the lives of people with limited access to care.”
Stan Bevis, Fast Pace’s Chief Executive Officer commented, “We are pleased to work with CRG and believe their patient and long-term approach to supporting growth companies in healthcare makes them a great partner for the next phases of Fast Pace’s journey.”
“CRG’s approach to the financing was thoughtful and pragmatic and, as a healthcare-focused investment firm, we expect that they will add meaningful value and provide insightful support to Fast Pace,” said Arion Robbins, a Principal at Revelstoke.
CRG continues to offer innovative healthcare companies, and leading equity sponsors, a competitive growth capital alternative that is less costly and dilutive than traditional equity financing and more flexible and less restrictive than other forms of capital.
About Fast Pace
Fast Pace is headquartered in Brentwood, TN, and is a leading regional manager of 67 urgent care clinics across Tennessee, Kentucky, and Mississippi. Through its nurse practitioner model with physician oversight, Fast Pace provides affordable access to primary care and urgent care services for a wide range of illnesses, injuries, and common conditions, in addition to diagnostic and screening services. For more information, please visit www.fastpaceurgentcare.com.
Revelstoke is a private equity firm formed by experienced investors who focus on building industry-leading companies in the healthcare and related business services sectors. Revelstoke partners with entrepreneurs and management teams to execute on a disciplined organic and acquisition growth strategy to build exceptional companies. Since the firm’s inception in mid-2013, Revelstoke has raised approximately $1.1 billion of equity and has completed 44 acquisitions, which includes 11 platform companies and 33 add-on acquisitions. For more information, please visit www.revelstokecp.com.
CRG is a premier healthcare investment firm that has committed more than $3 billion of assets across three funds to date. The firm seeks to invest between $20 to $300 million in companies across the healthcare spectrum, including: medical devices, biopharmaceuticals, tools & diagnostics, services and information technology. CRG provides growth capital in the form of long-term debt and equity to support innovative, commercial-stage healthcare companies that address large, unmet medical needs. The firm partners with public and private companies to provide flexible financing solutions and world-class support to achieve exceptional growth objectives with minimal dilution. CRG maintains offices in Boulder, New York and Houston. For more information, please visit www.crglp.com.