Fast Pace Health, a portfolio company of private equity firm Revelstoke Capital Partners, announced on July 20 that it has completed an investment in First Care Clinics, which manages urgent care clinics in Kentucky and Indiana. First Care Clinics will be rebranded as Fast Pace in the coming months. Terms of the deal were not disclosed.
The combination creates a multi-specialty provider of rural healthcare and value-based care population health management services offering more than 3 million annual patient visits in Tennessee, Kentucky, Louisiana, Mississippi, Indiana and Alabama.
Brentwood Capital Advisors LLC served as financial advisor and Waller Lansden Dorch and Davis, LLP was the legal counsel for First Care. Paul Hastings LLP provided legal counsel for Fast Pace.
Fast Pace Health provides urgent care, primary, walk-in and additional care to the underserved and uninsured in rural communities throughout Tennessee, Kentucky, Mississippi, Louisiana, Indiana and Alabama, with plans for future expansion. Since Revelstoke’s initial investment in Fast Pace in August 2016, it has grown from 35 clinics in two states to more than 200 clinics in six states.
According to the LevinPro HC database, this marks the 309th Other Services deal of 2022, and the 15th urgent care transaction of the year. This is an increase from the same time last year, when there were 232 transactions in the Other Services sector and four urgent care deals.
