Urgent Cares of America Holdings LLC, a portfolio company of Comvest Investment Partners IV, will acquire Arizona-based Tri-City Express Care. Financial terms of the deal were not released. Urgent Cares of America is a North Carolina-based owner and operator of urgent care facilities. The Comvest Group provides equity and debt financing to lower middle-market companies.
Comvest Investment Partners IV (“Comvest IV”) portfolio company Urgent Cares of America Holdings, LLC (“UCA”) today announced the acquisition of Tri-City Express Care, PLLC (d.b.a.Urgent Care Express) (UCE), based in Gilbert, Arizona with five urgent care locations in the Phoenix area. The acquisition represents the first step in UCA’s strategy to build a national group of urgent care clinics that are driven by clinical and operational best practices.
“We are very excited to team up with UCE to deliver urgent care in the Phoenix area,” said John Randazzo, CEO of UCA. “It says a lot about UCE, because thanks to the full support of our Board and Comvest we could have gone anywhere, but we chose UCE because we believe in the Arizona market and we believe in the way UCE serves its patients so well.”
The acquisition will take effect immediately. UCA has said that it does not plan wholesale changes to UCE clinics, but rather has forged a working group to learn clinical and operational best practices from both companies to optimize the performance of each UCA clinic.
“UCE represents a high quality platform in a second state with strong underlying growth characteristics,” said Roger Marrero, Managing Director at Comvest. “This transaction is an important step toward expanding the UCA footprint and continuing to develop the company into a market leader within the urgent care space.”
About Urgent Cares of America
Urgent Cares of America Holdings, LLC (UCA) is a North Carolina-based owner and operator of urgent care facilities focusing on the delivery of non-appointment based medicine to the non-emergency patient market. In partnership with physicians and other healthcare professionals, UCA currently owns nine operating urgent care centers with a primary concentration in the Raleigh, North Carolina metropolitan area. The urgent care centers are open 365 days a year and are staffed with experienced and licensed physicians, physician assistants and nurse practitioners. For more information, please visit www.rucn.info.
About Tri-City Express Care
Tri-City Express Care PLLC, (d.b.a.Urgent Care Express) (UCE) is an Arizona-based multi-location urgent care medical practice. UCE is dedicated to providing affordable and convenient access for non-life threatening health and injury care, as well as preventive care, physicals, drug screens and occupational injuries. For more information, please visit www.uurgentcareexpress.com.
About Comvest Group
The Comvest Group is a leading private investment firm focused on providing equity and debt capital to lower middle-market companies. The firm includes seasoned, senior level operating executives at all levels who partner with managers and owners of companies to grow businesses and create long-term value. Since 1988, Comvest has invested more than $2 billion of capital in over 200 public and private companies. For more information, please visit www.comvest.com.