Akeso Occupational Health acquires MedWorks Medical Center
Akeso Occupational Health announced its acquisition of MedWorks Medical Center, bringing its total number of clinics in California to 14. Terms of the deal were not disclosed. Akeso will combine the resources of its Santa Maria, clinic with MedWorks to increase its occupational health coverage from northern San Louis Obispo County through southern Santa Barbara County. Founded in 1999, MedWorks Medical Center is an urgent care center in Templeton, California, located in in San Luis Obispo County. MedWorks serves a diverse group of local agricultural, hospitality and other industrial employers. Headquartered in Irvine, California, Akeso Occupational Health is a workplace health resource... Read More »
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 »
HCA Healthcare Buys Network of Urgent Care Centers in Texas
HCA Healthcare (NYSE: HCA) announced last week it purchased 24 MedSpring urgent care centers in Texas from Fresenius Medical Care (NYSE: FMS). MedSpring centers offer treatment for a wide range of common injuries and illnesses. The 24 clinics are dispersed throughout major cities like Austin, Dallas and Houston. Fresenius acquired MedSpring Urgent Care Centers in 2014 for an undisclosed price. At the time, the company operated 14 centers, so this most recent deal shows significant growth in the target company. HCA Healthcare now operates a total of 160 centers across the country. The MedSpring centers will be rebranded to CareNow Urgent Care and operated by HCA. This deal comes on the... Read More »
Warburg Pincus Creates Mega-Care Model in NYC Metro Area
It takes a big platform to combine a prominent urgent care company with a major multi-specialty practice. Warburg Pincus is now providing that platform. On June 21, the private equity firm announced its urgent care company, New York City-based CityMD, will merge with Summit Medical Group, a physician-owned multispecialty medical practice anchored in Berkeley Heights, New Jersey. The combined organization aims to deliver high-quality medical care, which is the stated goal of every decent healthcare provider. The key component is convenience, delivered via its network of physicians and care locations from New Jersey to Long Island, New York. CityMD was founded in 2010 by Dr. Richard Park and... Read More »