Warburg Pincus Completes Acquisition of CityMD
08 Jun, 2017, 16:00 ET
NEW YORK, June 8, 2017 /PRNewswire/ -- Warburg Pincus, a global private equity firm focused on growth investing, today announced that funds affiliated with the firm have completed the previously-announced acquisition of CityMD, the leading urgent care provider in the New York Metro Area. Terms of the transaction were not disclosed.
Warburg Pincus will support CityMD's expansion through new site openings and strategic acquisitions and partnerships. The company was founded as an alternative to both expensive, crowded emergency rooms with long wait times and to physicians who are often booked weeks in advance. CityMD offers a wide range of comprehensive care by highly qualified physicians, as well as other clinical support staff. The company has over one million patient visits per year and operates more than 70 locations in New York, New Jersey and Washington State with a growing team of over 300 medical professionals.
Credit Suisse acted as financial advisor to Warburg Pincus. J.P. Morgan Securities LLC acted as financial advisor to CityMD.
Founded in 2010 by a passionate group of emergency medicine physicians, CityMD's mission is to serve its communities by providing quality medical care through convenient access and an exceptional experience. The company's unwavering commitment to treating everyone with respect and genuine kindness while offering exceptional services and a cost-effective alternative to the ER, has enabled CityMD to grow from one Manhattan practice to more than 70 locations in the greater New York Metro Area and Seattle, Washington. To date, CityMD has treated over 5 million patients.
For more information about CityMD and a list of locations, please visit CityMD.com.
Follow CityMD on Facebook facebook.com/CityMD, Twitter @CityMD, and Instagram @CityMD.
About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $44 billion in private equity assets under management. The firm's active portfolio of more than 140 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 16 private equity funds which have invested more than $60 billion in over 780 companies in more than 40 countries. Since inception, the firm has invested more than $9.7 billion in more than 150 healthcare companies. The firm's current and past healthcare investments have included Alignment Healthcare, Bausch + Lomb, China Biologic Partners (CPBO), Coventry Health Care, Helix, Lepu Medical, Wright Medical and Zentiva. The firm is headquartered in New York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai and Singapore. For more information, please visit www.warburgpincus.com.
Mary Armstrong / Christopher Beattie
CooperKatz & Company, Inc.
SOURCE Warburg Pincus
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