MyTown Health Partners Acquires St. Camillus Urgent Care & Family Practice
MyTown Health Partners (MTHP), a comprehensive practice management services organization formed by Webster Equity Partners, has announced its acquisition of St. Camillus Urgent Care & Family Practice. St. Camillus Urgent Care & Family Practice is a Christian-based urgent care center with sox locations across Kentucky. The center has been open since 2009. MTHP is a practice management services organization headquartered in Pittsburgh. MTHP is bringing together national leaders in the rural and urban healthcare space with the goal of providing accessible healthcare treatment to underserved communities. This strategic partnership will extend MTHP’s mission of compassionate... Read More »
Urgent Care Group Acquires ParkMed Urgent Care
Urgent Care Group, backed by Capital Alignment Partners and Harbert Management Corporation, announced the acquisition of ParkMed Urgent Care in Alcoa, Tennessee. ParkMed Urgent Care has been providing urgent care, preventative care and occupational health services to the greater Knoxville and Blount County communities since 1989. Urgent Care Groupis creating the leading urgent care company by combining the best urgent care centers resulting in significant economies of scale, greater operating efficiencies and enhanced clinical quality. The Urgent Care Group network includes 56 centers operating as six brands: Covenant Health Urgent Care in partnership with Covenant Health in Tennessee,... Read More »
HCA Expands Acquires 41 FastMed Urgent Care Locations in Texas
The publicly traded health system HCA Healthcare, Inc. struck a deal to acquire 41 urgent care centers in Texas owned by FastMed. No financial terms were disclosed, but the transaction is expected to close this summer. The agreement includes 19 FastMed and 22 MedPost urgent care centers in Dallas, Austin, San Antonio, Houston, and El Paso. It does not include FastMed’s urgent care locations outside of Texas. According to the press release, once completed, the transaction will expand significantly HCA Healthcare’s urgent care operations, which currently comprise 268 clinics. In 2022, HCA announced two deals in the urgent care space: Bettermed in Virginia, and following that, MD Now Urgent... Read More »
Rising Interest Rates, Banking Uncertainty Could Limit Capital Needed for Healthcare Real Estate M&A Activity
While healthcare real estate has proven to be an increasingly attractive investment in recent years, mergers and acquisitions deal volume in 2023 may fail to reach last year’s record. “We believe that overall volume will be healthy given the continued demand for healthcare real estate, but will be lower than previous years’ historic highs,” said Cornerstone Companies senior vice president of investments Ted Baker. His company’s holdings include approximately 55 medical office buildings and surgery centers with an aggregate value above $500 million. “My guess is that we see less of [the] larger trades and more single-asset deals [and] lower overall volumes,” Baker said. There were 120... Read More »