CityMD, the New York City-based urgent care chain, is beginning to tap the services of its partner, Warburg Pincus LLC. On February 13, the company announced its acquisition of STAT Health, a portfolio company of Spaons Barber Jesse & Co., and FirstMed Immediate Medical Care, for an undisclosed price.
CityMD was acquired by Warburg Pincus in April 2017 for a reported price of $600 million, including debt, according to Reuters. It was founded in 2010 by Dr. Richard Park, who remains CEO, and other physicians as a single practice in Manhattan.
At the time of its sale to Warburg Pincus, it operated 68 walk-in urgent care centers, some of which were added with its 2013 merger with Premier Care, another New York urgent care company.
In 2015, it headed to Seattle to open the first of several clinics in the Seattle-Tacoma area in partnerhips with CHI Franciscan Health, an eight-hospital not-for-profit system based in Tacoma.
Today, CityMD claims the title of “leading urgent care provider in the New York metro area” and has more than 85 locations in New York City and Seattle. The addition of 12-clinic STAT Health (with two under construction) on Long Island and the standalone FirstMed Immediate in Queens brings the number of CityMD centers to 100. The latest two deals are expected to close by the end of the first quarter.
