The new capital will be used by Urgent Care of Connecticut (UCC) to expand throughout the Northeast. UCC plans to grow both organically and through acquisitions.
“We are enthusiastic about our partnership with Pulse and PineBridge, which positions us well to execute on our plan to open numerous centers in locations already identified in Connecticut and elsewhere by the end of 2014,” said Chief Medical Officer and co-founder Dr. Jeannie Kenkare.
UCC operates seven urgent care centers and provides urgent medical treatment and routine care for illnesses (colds, flu, viruses), injuries (sprains, strains, fractures), and other services (X-rays, EKG’s, IV fluid, IV medication). UCC’s clinics are open 365 days and are staffed by board certified/eligible physicians. The company is headquartered in Brookfield, CT (www.ucofconnecticut.com).
At $14 billion annually, the urgent care industry is a rapidly growing sector of the U.S. healthcare system. Demand is being driven by crowded emergency rooms, primary care doctor shortages, and lower cost structures. “Urgent care has become an increasingly important part of the healthcare delivery system and UCC has a best in class platform on which to build,” said Douglas Lehrman, Founder and CEO of Pulse Equity.
Pulse Equity Partners invests from $10 million to $100 million in companies active in the health and wellness industries. The firm is based in New York (www.pulsequity.com).
PineBridge Investments manages $69 billion in assets for institutional and individual clients in listed equity, fixed income, private equity and hedge fund markets. The firm has approximately 800 employees in 32 countries and is based in New York (www.pinebridge.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 11-19-13