Acquisition positions FastMed as the largest urgent care organization in Arizona
Gilbert, AZ – April 1, 2014: FastMed Urgent Care, the sixth largest urgent care provider in the United States, today announced the acquisition of Advanced Urgent Care, the fourth largest urgent care operator in the state of Arizona. The acquisition establishes FastMed as the leader in providing convenient, high quality, affordable urgent care in Arizona.
“FastMed’s acquisition of Advanced Urgent Care represents a natural fit, as both organizations share the same mission of providing convenient, high quality, affordable personal care to everyone who walks in our doors,” said Kevin Blank, President and Chief Executive Officer of FastMed Urgent Care. “Together, we will continue to live up to this mission, and hold ourselves to providing high quality and cost effective patient care with the most rigorous national standards of quality and safety.”
In March, FastMed Urgent Care announced it had earned The Joint Commission’s Gold Seal of Approval® for accreditation by demonstrating compliance with the Joint Commission’s national standards for healthcare quality and safety in ambulatory health care. The newly acquired clinics, once fully integrated into the FastMed organization, will share this distinction. FastMed is one of only 37 of the 5,250 non-hospital based urgent care centers in the U.S. and is the largest urgent care operator to earn the designation.
“Given the absence of overlap among the clinic portfolios within the two organizations, patients will now have superior selection and convenience for high quality, non-acute care services throughout the Phoenix metropolitan area,” said Kyle Bohannon, Executive Vice President, Strategy & Development at FastMed. “On a post-transaction basis, FastMed will lead a disciplined integration of the eight Advanced Urgent Care clinics to ensure a seamless operational and cultural transition.”
Advanced Urgent Care, a pioneer in the Arizona urgent care market, opened its doors over ten years ago and currently operates eight clinics throughout the metropolitan Phoenix area. The company’s clinics provide convenient and high quality care for urgent, non-life threatening medical illness and injuries on a walk-in basis.
The acquisition will be effective April 1, 2014. As part of the transition, Advanced Urgent Care centers will be rebranded as FastMed Urgent Care.
About FastMed Urgent Care:
FastMed Urgent Care is an owner and operator of urgent care facilities with locations throughout North Carolina and Arizona. FastMed focuses on the delivery of non-appointment based medicine to the non-emergency patient market. The urgent care centers are open 365 days a year and are staffed with experienced and licensed physicians, physician assistants and nurse practitioners. FastMed clinics hold The Joint Commission’s Gold Seal of Approval® for accreditation in compliance with the Joint Commission’s national standards for health care quality and safety in ambulatory health care. For more information, please visit www.fastmed.com. FastMed is managed by an affiliated entity of one of the investment funds of the Comvest Group.
About the Comvest Group:
The Comvest Group, with $1.2 billion of assets under management, provides flexible financing solutions to lower middle-market companies through its equity and debt funds, often meeting time-critical and complex funding requirements. The firm includes seasoned, senior level operating executives who partner with managers and owners of companies to operationally improve businesses and create long-term value. Since 2000, Comvest has invested more than $1.5 billion of capital in over 105 public and private companies. For more information, please visit www.comvest.com.
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