Tenet Healthcare Sells Urgent Care Business

Tenet Healthcare Sells Urgent Care Business

Tenet Healthcare Corporation (NYSE: THC)  is having a busy holiday season. Early in December, the Texas-based health system purchased a portfolio of 45 ambulatory surgery centers (ASCs) from SurgCenter Development for $1.1 billion. Now, Tenet Healthcare is unloading a bulk of its urgent care platform in a deal valued at $80 million in order to focus on its ASC business. FastMed Urgent Care, backed by ABRY Partners and BlueMountain Capital Management, is buying Tenet’s platform, which is operated under the CareSpot and MedPost brands and managed by Tenet’s United Surgical Partners International subsidiary. The platform has 87 centers in Arizona and Texas. Tenet... Read More »
FastMed Plus NextCare Equals Urgent Care Giant

FastMed Plus NextCare Equals Urgent Care Giant

Consolidation continues in the urgent care services sector, as consumers and healthcare provider organizations look for lower-cost services outside hospital walls. One of the largest deals in this area in 2018 is FastMed Urgent Care’s acquisition of NextCare Holdings Inc., a portfolio company of Alcentra Capital Corp. since 2016. FastMed, the business name for Urgent Care Holdings of America, LLC, is backed by Abry Partners and BlueMountain Capital Management. The company owns and operates 110 clinics in Arizona, North Carolina and Texas. NextCare operates 141  facilities in Arizona, Colorado, Kansas, Missouri, New Mexico, North Carolina, Oklahoma, Texas, Virginia and Wyoming. The... Read More »

Arizona Urgent Care Market Tightens

Banner Health just threw its hat in the ring for the title of largest urgent care operator in Arizona. The not-for-profit health system, which operates 29 hospitals in seven states, just announced its acquisition of 32 Urgent Care Extra facilities in that state, primarily around Phoenix and Tucson. The clinics will be rebranded as Banner Urgent Care and join three other urgent care centers currently run by the health system. Two of those are in Colorado, and one is in Arizona. Banner plans to have as many as 50 urgent care centers in Arizona by the end of 2017, which would make it the largest urgent care operator in the state. Banner may have some competition from two other... Read More »

FastMed Urgent Care Goes to ABRY Partners

Yet another major transaction for an urgent care provider was announced last week, as Comvest Partners sold its interest in FastMed Urgent Care to ABRY Partners, for an undisclosed price. FastMed is the second largest independent urgent care organization in the United States, with 52 clinics in North Carolina and 35 in Arizona. In April, UnitedHealth Group’s Optum (NYSE: UNH) paid an undisclosed sum for MedExpress, which operates 141 full-service neighborhood medical centers in 11 states. The month before that, Humana Inc. (NYSE: HUM) sold its urgent care subsidiary Concentra Inc. to a joint venture formed by Welsh, Carson, Anderson & Stowe and Select Medical Corporation (NYSE: SEM)... Read More »