Seacoast Capital has made an investment in Righttime Medical Care, an operator of urgent care centers for both adults and children.
Righttime Medical Care operates 13 urgent care centers and 11 concussion centers throughout Maryland in Anne Arundel, Baltimore, Frederick, Howard and Montgomery counties. Services include Illness and injury evaluation and treatment, sports injury and concussion care, sports clearance exams, x-rays, laboratory services, and prescription services. The company’s facilities are open from 7 AM to midnight 365 days a year. Righttime Medical was founded in 1989 by its Chief Executive Officer, Dr. Robert Graw, and is headquartered in Annapolis (www.myrighttime.com) (www.myheadfirst.com).
With the closing of this transaction, Seacoast and Righttime intend to continue the company’s growth by opening new locations, expanding its sports injury and concussion care program, and offering additional services, including telemedicine.
“Righttime has always focused on providing patients with the best care possible in the most convenient setting. We want to offer access to medical care to more people, and looked for a partner that could help us expand while maintaining our commitment to quality and customer service,” said Dr. Graw. “Seacoast is that partner because they understand and support our mission of simplifying access to trustworthy medical care. With their help, the future growth potential for Righttime is unlimited, as we expand to provide underserved patients with patient-focused, comprehensive medical care.”
“Righttime is on the leading edge of urgent care. Its focus on convenience, quality, and the patient experience puts Righttime in a unique position to take advantage of tremendous growth opportunities,” said Tim Fay, Partner at Seacoast Capital. “Righttime’s Management team is strong, and we look forward to working closely with them to implement their growth strategy.”
Seacoast Capital provides between $3 million and $12 million of debt and equity capital for acquisitions, growth, shareholder buyouts, management buyouts, and leveraged recapitalizations. While industry agnostic, Seacoast has a particular interest in the specialty manufacturing, value-added distribution, and business services sectors. Seacoast targets investments in companies with $20 million to $150 million in revenue and $2 million or more of EBITDA. Seacoast is currently investing its third fund, Seacoast Capital Partners III, with $150 million of capital commitments. The firm was founded in 1994 and has offices in Boston and San Francisco (www.seacoastcapital.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 7-14-15
