CityMD, which is backed by Warburg Pincus, has acquired STAT Health and First Med Immediate Medical Care. No financial terms were disclosed. STAT Health is an urgent care provider on Long Island with a network of 12 centers while First Med Immediate Medical Care is a single urgent care center located in Queens, New York.
NEW YORK, June 27, 2018 /PRNewswire/ — CityMD, the leading urgent care provider in the New York Metro area, today announced it has completed the previously-announced acquisitions of STAT Health, a leading urgent care provider on Long Island with a network of 12 centers, and First Med Immediate Medical Care, a single urgent care center located in Queens, New York. These acquisitions bring the total number of CityMD locations to 100, a growth of 43 percent over the past year. Terms of the transactions were not disclosed.
The acquisitions of urgent care centers that share CityMD’s patient-first philosophy will help address healthcare access challenges and provide coordinated care through CityMD’s unique, centralized Aftercare Department for more patients in Suffolk and Queens counties. Over the next few months, the STAT Health and First Med centers will begin transitioning to the CityMD brand and benefiting from CityMD’s corporate infrastructure.
Warburg Pincus LLC, a leading global private equity firm focused on growth investing, announced a major investment in CityMD in 2017 to support CityMD’s expansion.
Dorsey & Whitney LLP served as legal counsel to CityMD and Credit Suisse acted as financial advisor to CityMD. McGuireWoods LLP served as legal counsel to STAT Health and Houlihan Lokey served as exclusive financial advisor to STAT Health.
Founded in 2010 by a passionate group of emergency medicine physicians, CityMD’s mission is to serve its communities by providing an exceptional experience through high-quality medical care and convenient access. The company’s unwavering commitment to treating everyone with respect and genuine kindness while offering exceptional services and a cost-effective alternative to the ER, has enabled CityMD to grow from one Manhattan practice to 100 locations in the greater New York Metro Area and Seattle, Washington. To date, CityMD has treated over 5 million patients.
For more information about CityMD and a list of locations, please visit CityMD.com.
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About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $45 billion in private equity assets under management. The firm’s active portfolio of more than 160 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 17 private equity funds which have invested more than $68 billion in over 820 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai and Singapore. For more information, please visit www.warburgpincus.com.