MIAMI, March 15, 2022 /PRNewswire/ -- ICV Partners, LLC, a leading investment firm focused on lower middle market companies in business services, consumer goods & services, food & beverage, and healthcare, announced today the acquisition of Urgent Care Group (UCG) and its combination with portfolio company Total Access Urgent Care (TAUC).
Founded in 2017 by Chief Executive Officer David Maloney, Urgent Care Group serves communities through 24 locations and three brands in Wilmington, NC, the Greater Atlanta area, and throughout South Carolina. The company provides comprehensive urgent care and employer services with onsite x-ray and lab, rapid COVID-19 testing, COVID-19 vaccinations and boosters, flu vaccines, and care for injuries and illnesses. All UCG centers are conveniently open from 8:00am – 8:00pm, 7 days per week, including Saturday and Sunday. UCG centers offer walk-in service or the convenience of mobile pre-registration via its "Save My Spot Online" platform. UCG accepts all major insurances, has affordable self-pay options, and is a VA Authorized urgent care provider. Urgent Care Group is supported by more than 400 full-time professionals that care for over 500,000 patients annually. Please visit www.urgentcaregroup.com.
Mr. Maloney, who will serve as CEO of the combined company, commented, "This is an exciting opportunity for both organizations that will benefit from complementary strengths brought to the combined entity. Both TAUC and UCG share similar missions, values, and operating philosophies and together we will work to continuously deliver fast, friendly, and affordable healthcare to the communities we serve."
The combined organization will operate more than 50 clinics in four states as Total Access Urgent Care in Missouri; Medac Urgent Care in North Carolina, MEDcare Urgent Care in South Carolina, and Health Choice Urgent Care in Georgia in partnership with Northside Hospital.
"Ira Moreland, ICV Managing Director, said, "This is our first acquisition since acquiring TAUC last year and the combination with UCG will provide improved scale and exposure to the rapidly growing Southeastern U.S. market. The complementary nature of the two companies will expand and diversify strategic expertise, offerings, and geographic presence. In addition to building partnerships with health systems, we also have a number of acquisition opportunities in new and existing markets that will further strengthen our platform to deliver high quality patient care."
Troy Dinkel, M.D., President and Chief Medical Officer of Total Access Urgent Care who will have the same role in the combined company, said, "This is an exciting development to further the positive trajectory of both companies as we expand our presence, open new locations, and build our clinical teams. We remain steadfastly focused on our patient care mission."
DLA Piper provided legal counsel to ICV Partners. Raymond James served as financial advisor, and Bradley served as legal counsel to Urgent Care Group. Row Associates served as Special Advisor to the Board of Directors of UCG in connection with the transaction.
About Total Access Urgent Care
Founded in 2008, Total Access Urgent Care (TAUC ®) proudly provides top-ranked patient care to the greater St. Louis area. TAUC (pronounced "talk") was founded on the belief that patients deserve access to fast, friendly, and affordable healthcare. Total Access Urgent Care offers state-of-the-art digital X-ray, CT scan, ultrasound, EKG, and common laboratory assays, on-site. TAUC's services also include IV hydration and medication administration, suturing lacerations, splinting minor fractures, reducing dislocations, and draining abscesses. For more information, visit www.tauc.com.
About Urgent Care Group Based in Nashville, Urgent Care Group is creating the leading urgent care company by combining and developing the best urgent care centers in partnership with excellent providers and premier health systems. Urgent Care Group is focused on taking care of patients by providing affordable and accessible care to help them Get Better. Faster! The Urgent Care Group Network includes 24 centers operating as three brands: Medac Urgent Care in North Carolina, MEDcare Urgent Care in South Carolina, and Health Choice Urgent Care in partnership with Northside Hospital in Georgia. For more information, visit: www.urgentcaregroup.com.
About ICV Partners
Founded in 1999, ICV Partners is a leading private investment firm that supports management leaders of strong lower middle market companies in pursuing growth. Over its first four funds, the principals of ICV have crafted a strong track record of helping companies expand their footprint and improve performance over the long term and across a variety of industries. Additional information is available at www.icvpartners.com.
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SOURCE ICV Partners