WEST PALM BEACH, FL– The Comvest Group announced today that Comvest Investment Partners IV has completed its acquisition of Urgent Cares of America, Inc and its affiliates (“UCA”). UCA is based in Raleigh, North Carolina and is a leading provider of urgent care services in the communities they serve through nine locations in North Carolina.
Comvest brings years of investing experience within healthcare and a hands-on operational management approach to UCA. Comvest operating partner, John Randazzo, former CEO of Healthcare Innovations and founder of Value Health, will join UCA as CEO. “The health care system needs patient centered solutions that provide convenience, high quality and cost efficient care. Urgent Cares of America and the team at Comvest are committed to further build a company based on these principles” said Randazzo. Additionally, Charles Saunders M.D., former Chief Medical Officer of Healtheon/WebMD, will join the UCA board as Chairman. These proven healthcare executives will serve to enhance the existing team and they will focus on building UCA into a market leader through both new locations and tuck-in acquisitions within North Carolina and surrounding states.
“Urgent care is one of the fastest growing segments within healthcare” said Roger Marrero, Managing Director at Comvest, “there will continue to be an increasing demand for affordable, non-emergency care driven by the aging population, a constrained primary care system and a larger insured population as a result of healthcare reform. Urgent care delivers high quality care at significantly lower cost and with walk-in convenience. UCA founders have created a unique platform that has self-financed through local relationships and internal cash flow. We believe that this existing fragmented structure can be significantly improved and expanded with the addition of experienced leadership, processes and systems, and technology.”
“The partnership with Comvest and John Randazzo provides us with an exceptional opportunity to team up with experienced healthcare investors and operators to take advantage of this unique time as urgent care centers help reshape the health care model in the United States” said Jason Williams, Founder of Urgent Cares of America who will remain with UCA.
About Urgent Cares of America:
Urgent Cares of America is a North Carolina-based owner and operator of urgent care facilities focusing on the delivery of non-appointment based medicine to the non-emergency patient market. In partnership with physicians and other healthcare professionals, the Company is currently the owner of nine operating centers with a primary concentration in the Raleigh metropolitan area. The centers are open 358 days a year and are staffed with experienced and licensed Physicians, Physician Assistants and Nurse Practitioners. For more information, please visit www.rucn.info
The Comvest Group is a leading private investment firm focused on providing debt and equity capital to lower middle-market companies. Our firm includes seasoned, senior level operating executives at all levels who partner with managers and owners of companies to grow businesses and create long-term value. Since 1988, Comvest has invested more than $2 billion of capital in over 200 public and private companies. For more information, please visit www.comvest.com.