LightBay Capital strikes growth investment in Rancho Family Medical Group

LightBay's backing will allow Rancho Family to invest in new and existing care centers, as well as additional technology tools, propelling the healthcare company's continued growth.

LightBay Capital has made a growth investment in Rancho Family Medical Group, a provider of family medical services in Southern California. Ziegler provided financial advice to Rancho Family, while TripleTree advised LightBay on the transaction.

PRESS RELEASE

Temecula, California (January 19, 2021) – Rancho Family Medical Group (“Rancho Family” or the “Company”) today announced that it has received a growth investment from funds managed by LightBay Capital.  Rancho Family has been providing high-quality family medical services in Southern California since 1942.  An early adopter of the medical home model, the Company has a proven track record serving its patients and providers, as well as its facility and payor partners.  The investment from LightBay will allow Rancho Family to invest in new and existing care centers, as well as additional technology tools, which will facilitate the Company’s continued growth.

“We are excited to be working with the team at LightBay,” said Josh Snow, CEO of Rancho Family.  “Rancho Family has a long history providing high-quality care to our patients when and where they need us, whether it be in the clinic, community, or hospital.  We see tremendous opportunities to grow our footprint and reach even more patients, and are thrilled to find a partner that shares our values and vision.”

Nav Rahemtulla, Co-Founder and Partner at LightBay Capital, said, “Josh Snow, along with the physician leadership at Rancho Family, has developed a compelling operating model that delivers personalized care and superior results to patients where they live and work.  We look forward to partnering with the Rancho Family team to support the Company’s continued growth.”

Ben Herman, Partner at LightBay Capital, added, “Our investment in Rancho Family is consistent with our strategy of aligning with innovative growth businesses.  We are excited to draw on our past experiences to support Rancho Family and the important role the Company fills within its communities.”

Ziegler served as the exclusive financial advisor and Waller Lansden Dortch & Davis, LLP provided legal counsel to Rancho Family in connection with the transaction.  TripleTree served as the exclusive financial advisor and McDermott Will & Emery LLP provided legal counsel to LightBay Capital.

About LightBay Capital

LightBay Capital is a Los Angeles-based growth-focused private equity firm that applies a flexible capital approach to middle-market investing.  Primarily focused on the healthcare, consumer, and business services industries, LightBay invests across the capital structure and in all market environments to help accelerate the growth of high-quality companies.  For more information, please visit www.lightbay.com.

About Rancho Family

Rancho Family has been a fixture in Southwest Riverside County since 1942.  It is the oldest family practice group in the Temecula Valley with nearly 50 providers that manage 50 thousand lives across 20 clinic, senior center, urgent care, senior nursing facility, and hospital locations.  For more information, please visit www.ranchofamilymed.com.