Buyout shop Sterling Partners has put an undisclosed amount of money into Dallas-based First Choice Emergency Room, a provider of freestanding emergency rooms. Terms of the deal were not released.
First Choice Emergency Room, the leading provider of freestanding emergency rooms with 12 Texas locations, announced that it is receiving a significant investment from Sterling Partners, a private equity firm with $5 billion in assets under management and a track record for growing innovative healthcare companies.
The partnership with Sterling validates First Choice’s pioneering business model – a unique approach to emergency medicine that takes the ER out of the hospital, cuts down on patient wait times, and puts high-quality treatment closer to neighborhoods. First Choice’s facilities are equipped to serve major and minor emergency needs for both adult and pediatric patients. First Choice has already achieved rapid success competing against traditional hospital emergency rooms, and Sterling’s investment will spur the next stage of First Choice’s growth.
“We are extremely excited about our new partnership with First Choice,” said Danny Rosenberg, a Managing Director at Sterling Partners. “We see boundless potential for the business and have been impressed with the quality of the management team and organization. Our focus is on investing in healthcare businesses that matter to patients, provide the highest quality care and service, and address inherent challenges in our current system. First Choice fits that bill.”
CEO, Rick Covert added, “We believe Sterling is the right partner for First Choice as we share common objectives. They are truly differentiated in the private equity community and will be integral in delivering on our continued commitment to improving access to top notch emergency medical care in your neighborhood while improving the ER service environment.”
First Choice Emergency Room, founded in North Texas in 2002, was recently named to the 2010 Inc. 5000 list of fastest-growing private companies in the United States for the second year in a row. The company was also recognized as one of the top 100 fastest-growing privately-held companies in the Dallas area by the Southern Methodist University Cox Caruth Institute for Entrepreneurship in each of the past six years.
About Sterling Partners
Sterling Partners is a private equity firm with a distinct point of view on how to build great companies. They’ve been around since 1983 and have invested billions of dollars, but that’s not what really defines their business. Sterling’s purpose is INSPIRED GROWTH®, which describes a differentiated approach to buying inspired businesses and growing them in inspired ways. Sterling invests growth capital in small and mid-market businesses in industries with positive, long-term trends – such as education, healthcare, and business services. Through offices in Chicago, Baltimore, and Miami, they provide valuable support to portfolio company management teams through a deep and dedicated team of operations and functional experts. Sterling believes in an unrelenting commitment to ideas and ideals, to people and partnerships that drive long-term success. Visit www.sterlingpartners.com or reach out to a team member to learn more.
About First Choice Emergency Room
First Choice Emergency Room is revolutionizing the delivery of emergency medical services for adult and pediatric emergencies, both major and minor. First Choice Emergency Room facilities are innovative, freestanding, fully equipped emergency rooms. All physicians are board certified, emergency physicians, and all FCER nurses are emergency trained. With seven locations in the Houston area, four in the Dallas/Ft Worth area and one in the Austin area, patients receive high-quality treatment without the delays commonly experienced in hospital ER’s.