Urgent Team, a family of urgent care centers in Tennessee, Arkansas and Mississippi, recently received an investment of capital from Crestline Investors, Inc. (“Crestline”).
Crestline’s investment, in a combination of debt and equity, will help fund Urgent Team’s next round of expansion which will include freestanding de novo centers, strategic acquisitions, and further expansion with their joint venture partner Baptist Health in Arkansas.
“Urgent Team is pleased with the addition of Crestline to our other capital partners who believe in our mission and values: Petra Capital Partners, SV Life Sciences, and River Cities Capital Funds,” said Urgent Team CEO and Chairman Tom Dent.
Since 2008, the number of urgent care facilities has increased from 8,000 to 9,300, according to the Urgent Care Association of America (UCAOA) Benchmarking Survey 2015. No matter the name – urgent care, walk-in care, immediate care or convenient care – the focus is on treating patients quickly, affordably and in convenient locations. These centers treat patients who have an injury or illness that requires immediate care, but is not serious enough to warrant a visit to an Emergency Department. The distinguishing factors of urgent care are that medical care is delivered on a walk-in basis, with no appointment needed, and most are open 7 days a week with evening and weekend hours, making it convenient for families.
“Urgent care centers not only help keep healthcare costs down for families and allow emergency departments to remain dedicated to patients who have the most critical health needs, but also provide an option for a delayed primary care appointment,” Dent explained. According to the UCAOA, up to 27 percent of all ED room visits could take place at an urgent care center, thus saving the patient time and money.