Brentwood Associates Acquires MD Now Urgent Care
LOS ANGELES--(BUSINESS WIRE)--Aug 2, 2018--Brentwood Associates (“Brentwood”), a leading middle-market private equity investment firm, announced it has acquired MD Now Holdings, Inc. (“MD Now Urgent Care” or the “Company”) from Brockway Moran & Partners, Inc. (“Brockway Moran & Partners”). MD Now Urgent Care is a leading urgent care operator with clinics located throughout Southeast Florida.
Founded in 2005, MD Now Urgent Care is the largest independent urgent care provider in Florida and offers a broad range of high quality medical care, including urgent care services, diagnostics and testing, occupational medicine, and physical therapy services. The Company’s physician-led model allows clinics to provide patients with high acuity medical services in an affordable, timely manner. Over the last thirteen years, MD Now Urgent Care has grown from a single clinic into an established platform across Palm Beach, Broward, Miami-Dade, and Indian River counties, becoming an integral part of the communities it serves and developing a loyal patient base and extraordinary reputation.
Commenting on the new partnership, CEO Michael Holton said, “We are excited to join Brentwood in this partnership. Brentwood’s deep expertise in growing multi-unit businesses, along with their ability to bring exceptional resources to bear, will be great assets as we seek to expand into new geographies while continuing to drive robust growth in our core markets. Our team is committed to providing best-in-class care for our patients and maintaining the outstanding reputation and customer loyalty we share within our communities today.”
Steve Moore, partner at Brentwood, commented, “MD Now Urgent Care has become a trusted brand in the South Florida market by delivering high quality care and an exceptional in-clinic experience to its loyal patient base. The company’s data-driven approach to operations, strategic footprint, and investments in infrastructure have created an extraordinary platform for future growth, through both de novo clinic openings and strategic acquisitions.”
Bill Barnum, partner at Brentwood, added, “We are thrilled to partner with the MD Now Urgent Care leadership team and look forward to supporting their patient-first focus, growing the Company’s geographic footprint rapidly, and building upon the tremendous success they have achieved to date.”
MD Now Urgent Care was advised by Houlihan Lokey, and its legal counsel was Peter W. Klein, P.A. and Jones Day. Brentwood was advised by Financo, and its legal counsel was Kirkland & Ellis LLP. Golub Capital provided the debt financing supporting the acquisition.
ABOUT MD NOW Urgent Care
MD Now Urgent Care is the largest and fastest growing independent provider of urgent care services in South Florida with locations conveniently located across Palm Beach, Broward and Miami-Dade counties. The Company’s clinics are open 8am – 8pm, 365 days per year, with a licensed doctor onsite at all times ensuring easy access and quality care patients can trust. For more information about MD Now Urgent Care, please visit www.mymdnow.com.
ABOUT BRENTWOOD ASSOCIATES
Brentwood Associates is a leading middle-market private equity investment firm with a 30+ year history of investing in leading growth companies. Brentwood focuses on investments in growing businesses where it can leverage its extensive experience in areas such as: consumer products and services; multi-location growth strategies, including specialty retail and restaurants; direct marketing, including direct mail and e-commerce; health and wellness; education; and business services. Since 1984, Brentwood’s dedicated private equity team has invested in over 50 portfolio companies with an aggregate transaction value of over $6 billion. With significant experience in both investing and brand building, Brentwood is a value-added partner with entrepreneurs and senior management teams building world-class companies. For more information about Brentwood, please visit www.brentwood.com.
ABOUT BROCKWAY MORAN & PARTNERS
Since 1998, Brockway Moran & Partners has partnered with numerous dynamic middle market companies and their management teams to build their companies through both organic growth strategies and add-on acquisitions that are tightly integrated. Brockway Moran has completed approximately 100 acquisitions over this time and has, in active concert with management teams, created numerous sector leading companies, while positioning its portfolio companies for long term success. The firm has raised over $1.3 billion of committed equity capital. For more information, visit www.brockwaymoran.com.
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CONTACT: Brentwood Associates
Matthew Whelan, 310-477-6611
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA FLORIDA
INDUSTRY KEYWORD: HEALTH OTHER HEALTH PROFESSIONAL SERVICES FINANCE GENERAL HEALTH
SOURCE: Brentwood Associates
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PUB: 08/02/2018 11:00 AM/DISC: 08/02/2018 11:01 AM