ZT Corporate Scoops up Six Freestanding Emergency Centers

ZT Corporate Scoops up Six Freestanding Emergency Centers

by | Nov 14, 2018 12:57 pm | Other Services, Urgent Care Centers

ZT Corporate, a Houston-based private equity firm formerly known as ZT Wealth, won its stalking-horse bid to acquire six freestanding emergency centers in the Houston area, operating under the Neighbors Emergency Center brand. Founded in 1997, the firm owns and manages Altus Health, whose operations include a surgical hospital, cancer centers and three freestanding emergency centers, all in Texas. Neighbors was founded in Pearland, Texas in 2008 and opened its first center in 2009. At its peak, the company operated 33 centers across three states. However, increased competition, too much corporate overhead and “less favorable insurance payor conditions” led to financial... Read More »
Tower Health Adds Urgent Care and ASC Deals

Tower Health Adds Urgent Care and ASC Deals

by | Oct 3, 2018 3:51 pm | Hospitals, Other Services, Urgent Care Centers

Tower Health, a six-hospital system across southeastern Pennsylvania, is growing its network rather aggressively lately. On October 2, it announced the acquisition of Premier Urgent Care, which runs 19 urgent care centers in Pennsylvania and Delaware. A week earlier, it reported a new joint venture with United Surgical Partners International (USPI), part of Tenet Healthcare (NYSE: THC). Tower Health is the new name for the former Reading Health System, based in West Reading, Pennsylvania. Until May 2017, the system consisted of Reading Hospital, which housed a cancer institute, a cardiac center, a rehabilitation hospital and a physician network of more than 1,000 physicians. On May 30 of... Read More »
Tower Health Adds Urgent Care and ASC Deals

CityMD Adds 2 Urgent Care Companies

by | Feb 22, 2018 11:36 am | Other Services, Urgent Care Centers

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... Read More »

Urgent Care Centers May Benefit from ACA Repeal

by | Jan 20, 2017 7:38 pm | Other Services, Urgent Care Centers

Last week, the Urgent Care Association of America (UCAOA) released its annual Benchmarking Report. In it was the finding that the number of urgent care centers increased 10% in 2016, to 7,357 centers. Looking through our database, it’s obvious that the majority of that year-over-year growth in urgent care centers was de novo, not from mergers and acquisitions. Here’s how M&A in the urgent care segment has played out since 2010, the year the Affordable Care Act was signed. Urgent Care Center Deals, 2010 to 2016 YearNumber of DealsTotal $ Spent 201612N/A 201517$1.06 billion 20149$2.2 million 20132N/A 201210$7.8 million 20114N/A 20102$805 million #rowspan#Source: HealthCareMandA.com Only... Read More »