FastMed Urgent Care and NextCare Holdings, Inc., two of the nation’s leading urgent care providers, today announced that they will merge. The combined company will be one of the largest urgent care providers in the United States, with 251 clinics in 10 states.
“We are excited about combining with NextCare because it will enable us to bring our unique model of high-quality, convenient, affordable and compassionate care to millions more consumers,” said Web Golinkin, FastMed’s CEO. “The two companies have many complementary strengths, and we look forward to utilizing them for the benefit of our patients and the communities we serve.”
“The combination of FastMed and NextCare is a continuation of Abry’s thesis to partner with best-in-class companies and experienced management teams in the healthcare sector that can increase access and reduce costs for both patients and third-party payors,” said Brent Stone, Partner at Abry Partners, LLC. Abry and BlueMountain Capital Management, LLC are FastMed’s lead investors.
Under the terms of the definitive agreement, Urgent Care Holdings of America, LLC, d.b.a. FastMed Urgent Care, will acquire 100% of NextCare Holdings, Inc. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to be completed within the next 60 days. Barclays is acting as the financial advisor to FastMed for this transaction. J.P. Morgan Securities LLC is acting as the financial advisor to NextCare for this transaction.
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Date: December 17, 2018
Source: The PE Hub network
