Texan Urgent Care, an urgent care clinic operator with 14 centers throughout Texas, has been acquired by FastMed Urgent Care, the second largest and fastest growing independent urgent care organization in the U.S. FastMed is a portfolio company of ABRY Partners. Provident Healthcare Partners served as exclusive financial advisor to Texan Urgent Care. The terms of the transaction were not disclosed.
“Provident helped find an ideal partner for my business. They were thorough, diligent, and selective in this process. They took time to understand my needs and then without any pressure consummated a deal. I never felt rushed in the entire process. Even our buyers were impressed by Provident’s handling of the transaction. I would use Provident for all my future transactions,” stated Dr. Ashish Singhal.
“Dr. Ashish Singhal and his team have built a highly impressive platform in central Texas that offers a significant value proposition to patients, payors, and the broader healthcare system. In partnership with FastMed and ABRY, we fully expect Texan Urgent Care to expand its patient-focused model across the state in a short span of time,” commented AJ Shekar, Associate at Provident Healthcare Partners.
“With its 14 clinics, Texan Urgent Care has established itself as the leading urgent care provider in central Texas by its unwavering commitment to clinical excellence and patient satisfaction. Texan Urgent Care will serve as the platform for FastMed to create the market leader in Texas through the delivery of quality patient care in the cost effective urgent care setting,” noted Steve Aguiar, Director at Provident Healthcare Partners.
About Texan Urgent Care
Texan Urgent Care provides comprehensive and cost effective medical care in its urgent care centers. With quality, convenience and dedication as the cornerstone of its services to patients, Texan Urgent Care provides walk-in service with extended after-hours, evening and weekend hours for all types of non-life-threatening medical conditions. Texan Urgent Care typically staffs its centers with medical providers that have extensive emergency room experience. For more information, please visit www.texanurgentcare.com.
About FastMed Urgent Care
FastMed Urgent Care is an owner and operator of urgent care facilities with more than 100 locations across Arizona, North Carolina and Texas. FastMed focuses on the delivery of walk-in medicine for non-emergent healthcare needs 365 days per year through licensed physicians, physician assistants and nurse practitioners. FastMed clinics hold the Joint Commission Gold Seal of Approval® for accreditation in healthcare quality and safety in ambulatory healthcare. FastMed is managed by an affiliated entity of one of the investment funds of ABRY Partners. For more information, please visit www.FastMed.com.
About ABRY Partners
Founded in 1989, ABRY Partners is one of the most experienced and successful media, communications, business, and information services-focused private equity investment firms in North America. Since its founding, ABRY has completed more than $42 billion of transactions, representing investments in more than 450 properties. The firm is currently managing more than $4.3 billion of total capital and investing out of a $1.9 billion private equity fund, $950 million senior equity fund and a $1.5 billion senior debt fund. For more information, please visit www.ABRY.com.
About Provident Healthcare Partners
Provident is the leading investment banking firm specializing in merger and acquisition advisory, strategic planning, and capital formation for middle-market and emerging growth healthcare companies. The firm has a vast network of high-level, senior industry contacts, a thorough knowledge of market sectors and specialties, and unsurpassed experience and insight into the M&A process. Provident uncovers value and opportunities that others often overlook to create transaction premiums for its clients. For more information visit the Provident website www.providenthp.com.
Provident Healthcare Partners
Gina Leone, Senior Analyst