Latticework Capital Management and Goldman Sachs Alternatives jointly announced on May 23 Goldman Sachs’ acquisition of Xpress Wellness, LLC. Terms of the transaction were not disclosed.
Xpress Wellness, along with its subsidiary, Integrity Urgent Care, provides healthcare services to rural and underserved communities across Oklahoma, Kansas and Texas. The company’s multi-specialty model is primarily focused on urgent care and additionally provides employer and workers’ compensation services, behavioral health counseling, primary care and facility-based services. Xpress Wellness currently operates 58 clinics, 39 of which are certified Rural Health Clinics.
Goldman Sachs is one of the leading investors in alternatives globally. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, hedge funds and sustainability. Clients access these solutions through direct strategies, customized partnerships and open-architecture programs.
The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has more than $2.8 trillion in assets under supervision globally as of December 31, 2023.
“We look forward to partnering with the Xpress management team to continue to drive growth in existing and new geographic markets, bringing high-quality urgent care and select specialty services to underserved communities. We believe that Xpress has a differentiated model for serving rural communities, including having many clinics that are certified by CMS under the Rural Health Clinic (RHC) program and a team of dedicated clinicians,” said Greg Shell, Head of Inclusive Growth at Goldman Sachs Alternatives.
Houlihan Lokey served as the exclusive financial advisor and McGuireWoods LLP served as legal counsel for Xpress. Latham & Watkins served as legal counsel for Goldman Sachs.
According to data captured in the LevinPro HC database, this acquisition represents the seventh urgent care transaction of 2024. There were 14 urgent care deals announced during 2023, and 23 announced during 2022.
