Omega Capital has made a growth equity investment in CareATC, Inc., which operates onsite and near-site medical clinics. The Oklahoma Life Science Fund and CareATC management participated in the financing. Details of the transaction were not disclosed. Philip Kurtz, chief executive officer of CareATC, Jason Martin, president of Omega Capital, William Paiva, managing of the Oklahoma Life Science Fund and Ron Woods, founder of CareATC, will serve on CareATC’s board.
Tulsa-based private equity firm Omega Capital today announced a growth equity investment in CareATC, Inc. (“CareATC”). The Oklahoma Life Science Fund and CareATC management also participated in the financing. Details of the transaction were not disclosed.
Headquartered in Tulsa, Okla., CareATC is a leading operator of onsite and near-site medical clinics for employers of all sizes. Since 2000, CareATC has provided customized healthcare solutions to employers that have reduced healthcare costs by promoting health, preventing disease, and providing a shorter path to care for employees. CareATC currently has over 100 clients in 16 states, serving over 85,000 patient lives. Customers include corporations, municipalities, and school districts.
“We are excited to partner with Omega Capital and the Oklahoma Life Science Fund on this financing,” said Philip Kurtz, Chief Executive Officer of CareATC. “We want to accelerate our rollout of new clinics to keep pace with the demand for quality healthcare in or near the workplace.”
“Employers have become very sophisticated about their rising healthcare costs and the direct linkage between employee wellness and productivity,” said Jason Martin, President of Omega Capital. “We know that investments in preventative care and disease management pay big dividends.”
“By eliminating barriers to care such as distance, wait times, and co-pays, CareATC is able to head off complications before they become costly in both human and financial terms,” said Dr. William Paiva, Manager of the Oklahoma Life Science Fund.
As part of the transaction, Kurtz, Martin, Paiva and Ron Woods, founder of CareATC, will serve on the board of directors of CareATC.
Omega Capital is currently seeking acquisition and investment opportunities in the energy, aviation, machinery, industrial technology, healthcare and food processing industries. Additional information may be found at http://www.omegacapital.com.
More information about CareATC may be found at http://www.careatc.com. More information about the Oklahoma Life Science Fund may be found at http://www.olsfventures.com.