Fast Pace Health Completes Investment in First Care Clinics
Jul 20, 2022, 07:00 ET
The partnership expands patients' access to high quality healthcare in underserved rural populations in Kentucky and Indiana
FRANKLIN, Tenn., July 20, 2022 /PRNewswire/ -- Fast Pace Health ("Fast Pace"), a provider of outpatient healthcare services to rural communities, announced today that it has partnered with First Care Clinics ("First Care") to expand its clinical footprint and increase access to care for underserved rural populations. The combination results in a multi-specialty provider of rural healthcare and value-based care population health management services through a network of over 200 clinics serving over three million annual patient visits across the states of Tennessee, Kentucky, Louisiana, Mississippi, Indiana, and Alabama. Fast Pace is a portfolio company of Revelstoke Capital Partners ("Revelstoke"), a private equity firm focused on investing in, and growing, healthcare services companies.
"We are thrilled to partner with First Care to increase access to high-quality, affordable healthcare in our rural communities," said Greg Steil, President and CEO of Fast Pace. "First Care's focus on its patients in a family friendly environment fits perfectly with Fast Pace's culture. We are excited about expanding services in our communities and working towards solving America's rural healthcare problem through our multi-specialty services and innovative care coordination model."
Fast Pace has a track record of reducing avoidable emergency room admissions in its communities and has multiple value-based and care coordination arrangements with its payor partners, leading to a more comprehensive and outcome-based approach to delivering healthcare. At the same time, Fast Pace continues to expand its services, which includes behavioral health, dermatology, orthopedics, primary care, physical therapy, telehealth and urgent care.
First Care clinics will be rebranded as Fast Pace in the upcoming months and the leadership teams will work together to continue their collective mission of growing and improving healthcare access for patients while maintaining employee excellence.
"We look forward to working together to continue our mission of providing affordable, compassionate care to patients in underserved rural communities. I'm pleased our wonderful employees will be able to continue their very important work in an environment that maximizes their abilities while providing quality care in a family-like atmosphere," said Rob Pantoja, Co-Founder and CEO of First Care.
Since Revelstoke's initial investment in Fast Pace in August of 2016, Fast Pace has grown its clinical footprint from 35 clinics in two states to over 200 clinics in six states, increasing access to healthcare for millions of vulnerable rural Americans.
"The rural community is an important and often forgotten population in our nation's healthcare system," said Simon Bachleda, Co-Founder and Managing Partner of Revelstoke. "Revelstoke and Fast Pace are committed to rapidly building a high-quality and low-cost healthcare network that comprehensively serves one of America's most vulnerable populations."
Brentwood Capital Advisors LLC served as financial advisor and Waller Lansden Dorch and Davis, LLP was the legal counsel for First Care. Paul Hastings LLP provided legal counsel for Fast Pace.
Revelstoke (www.revelstokecapital.com) is a private equity firm formed by experienced investors who focus on building industry-leading companies in the healthcare and related business services sectors. Revelstoke partners with entrepreneurs and management teams to execute on a disciplined organic and acquisition growth strategy as it strives to build exceptional companies. Revelstoke is based in Denver, Colorado and has approximately $4.8 billion of assets under management. Since the firm's inception in 2013, Revelstoke has completed 158 acquisitions, which includes 25 platform companies and 133 add-on acquisitions.
About Fast Pace Health
Fast Pace Health (www.fastpacehealth.com) provides accessible and cost-effective healthcare to underserved and uninsured in rural communities throughout Tennessee, Kentucky, Mississippi, Louisiana, and Indiana, with plans for future expansion. Fast Pace Health provides treatments for a wide range of illnesses, injuries, and common conditions, as well as a variety of wellness, diagnostic, and screening services. Open seven days a week with extended hours, Fast Pace Health offers patients the convenience of short wait times, daily urgent care services, and the ability to be seen by a primary care provider without an appointment. The company is changing the delivery of healthcare in rural areas by integrating excellent patient care, education, accessibility, and community service in a way that puts the patient's needs first and improves the health status of our communities. Face Pace Health is a primary source for not only urgent care but for total health care.
For Fast Pace:
SOURCE Fast Pace Health; Revelstoke Capital Partners
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