Seacoast Capital has recapitalized Maryland-based urgent care center operator Righttime Medical Care. No financial terms were disclosed.
Seacoast Capital (“Seacoast”) announced today that it has successfully recapitalized Righttime Medical Care (“Righttime”), a leading operator of urgent care centers in Maryland.
With this capitalization, Righttime intends to continue its growth and strengthen the company’s leadership position by opening new locations, expanding its Headfirst Sports Injury and Concussion Care program, and offering additional services, including telemedicine. Dr. Robert G. Graw, Jr., CEO, noted “Righttime has always focused on providing patients with the best care possible in the most convenient setting. We want to offer access to medical care to more people, and looked for a partner that could help us expand while maintaining our commitment to quality and customer service. Seacoast is that partner because they understand and support our mission of simplifying access to trustworthy medical care. With their help, the future growth potential for Righttime is unlimited, as we expand to provide underserved patients with patient-focused, comprehensive medical care.”
Tim Fay, Partner at Seacoast Capital, stated “Righttime is on the leading edge of urgent care. Its focus on convenience, quality, and the patient experience puts Righttime in a unique position to take advantage of tremendous growth opportunities. Righttime’s Management team is strong, and we look forward to working closely with them to implement their growth strategy.”
About Righttime Medical Care
Righttime Medical Care (http://www.myrighttime.com/) simplifies access to trustworthy medical care at its 13 urgent care locations in Maryland. Now in its 25th year, Righttime holds the Certified Urgent Care designation, which distinguishes it as among the top urgent care centers nationwide. Righttime is open from 7am to midnight 365 days a year and offers patients of all ages a 24-hour Call Center and online access for same day appointments, digital x-rays, laboratory testing, prescription services and electronic health records which are shared with patients’ physicians, specialists and collaborating medical institutions.
About HeadFirst Sports Injury and Concussion Care
HeadFirst Sports Injury and Concussion Care (http://www.myHeadFirst.com/) provides post-injury medical evaluation for patients of all ages who have suffered head injuries and mTBI. Trained in the evaluation and management of mTBI, the HeadFirst medical team works with a network of specialists to ensure patients receive optimal care. HeadFirst offers ImPACT® baseline testing for sports teams and individuals, and supports athletic trainers and coaches with a community-focused concussion awareness education program, monthly Concussion Consortium meetings and a 24-hour sports injury hotline. Righttime Medical Care operates 13 urgent care centers and 11 HeadFirst Concussion Centers throughout Maryland in Anne Arundel, Baltimore, Frederick, Howard and Montgomery counties. All Righttime locations are open 365 days a year from 7 a.m. until midnight.
About Seacoast Capital
Seacoast Capital (http://www.seacoastcapital.com/) was founded in 1994 to make non-controlling subordinated debt and equity investments in privately-held lower middle market companies. Seacoast specializes in “sponsorless” transactions, preferring to invest directly with company owners or management teams, although it will selectively consider investments led by professional investor groups. Seacoast typically provides between $3 million and $12 million of debt and equity capital for acquisitions, growth, shareholder buyouts, management buyouts, and leveraged recapitalizations. While industry agnostic, Seacoast broadly invests in the specialty manufacturing, value-added distribution, and business services sectors. Seacoast generally targets investments in companies with $20 million to $150 million in revenue and $2 million or more of EBITDA. With offices in Boston and San Francisco, Seacoast invests in companies all over the United States and is currently investing its third fund, Seacoast Capital Partners III, L.P.