Xpress Wellness Urgent Care Announces Recapitalization by Latticework Capital Management
OKLAHOMA CITY & DALLAS--(BUSINESS WIRE)--Nov 15, 2018--Xpress Wellness Urgent Care (“Xpress”), the largest urgent care provider to secondary markets in Oklahoma and Kansas, today announced that it has received an investment from Latticework Capital Management (“LCM”), a Dallas-based growth-oriented private equity firm focused exclusively on the healthcare industry. Financial terms of the transaction were not disclosed.
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Founded in 2013, Xpress Wellness Urgent Care operates walk-in clinics to treat non-life-threatening injuries and illnesses. In addition to urgent care, the company provides a number of services to pediatric and adult patients, including primary care, workers’ compensation services, occupational medicine and sports medicine. Xpress urgent care facilities are certified and accredited by the Urgent Care Association (“UCA”). The company employs approximately 130 professionals and has ten locations.
“Since our founding, we have strived to provide access to quality healthcare to underserved communities, in keeping with our goal of offering the best possible experience for each and every patient,” said Dr. Scott Williams, Chief Medical Officer of Xpress Wellness Urgent Care. “Partnering with LCM, a firm with a quality track record in the healthcare sector, we believe will help scale the business in the most strategic and efficient manner. It is a pleasure to welcome them to the Xpress family as we seek to continue providing our patients with the premier care they expect and deserve.”
“As a leading urgent care provider to a number of rural communities in Oklahoma and Kansas, Xpress Wellness Urgent Care is well positioned to continue its expansion efforts,” said Kyle Bradford, a Managing Partner at Latticework Capital Management. “Importantly, Xpress is led by a passionate and seasoned management team in Scott Williams and President Brian Hayden, both of whom are well-respected among their industry peers. We are excited to begin actively collaborating with their talented team of medical professionals and administrative staff to help promote further growth.”
“It is evident that the entire network of Xpress professionals are passionate about providing patients with timely, cost-effective and high quality service and care,” said Steve Neumann, a Managing Partner at Latticework Capital Management. “We are thrilled to partner with the entire team and look forward to working with them to further build value in the business.”
In partnering with LCM, Xpress joins a broader network of healthcare companies across the country. Earlier this year, LCM completed an investment in Rural Partners in Medicine, an outsourced provider of specialty physician services to rural hospitals. The firm is also an active investor in the American Veterinary Group, an acquirer and operator of animal hospitals in the Southeastern United States, and Restoration Behavioral Health Group, which specializes in treating the chemical and mental health needs of individuals transitioning from the criminal justice system back into their communities.
About Xpress Wellness Urgent Care Founded in 2013, Xpress Wellness Urgent Care is the largest urgent care provider to secondary markets in Oklahoma and Kansas. In addition to urgent care, the company provides a number of services to pediatric and adult patients, including primary care, workers’ compensation, occupational medicine and sports medicine. Xpress urgent care chains in Oklahoma and Kansas are certified and accredited by the Urgent Care Association (“UCA”). More information can be found at www.xpresswellnessurgentcare.com.
About Latticework Capital Management Founded in 2014, Latticework Capital Management is a Dallas-based growth-oriented private equity group focused on making control equity investments in lower-middle market healthcare companies across the United States. The investment team has invested over $1.5 billion of equity investments completing over 70 acquisitions and over 50 de novo expansions. LCM leverages its over 50 combined years of healthcare experience, as well as its network of industry executives, to help companies grow and realize their full long-term value. More information can be found at www.latticeworkcapital.com.
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CONTACT: For Xpress Wellness:
Xpress Wellness Urgent Care
For Latticework Capital Management:
KEYWORD: UNITED STATES NORTH AMERICA KANSAS OKLAHOMA TEXAS
INDUSTRY KEYWORD: PRACTICE MANAGEMENT HEALTH HOSPITALS PROFESSIONAL SERVICES FINANCE
SOURCE: Xpress Wellness Urgent Care
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PUB: 11/15/2018 06:00 AM/DISC: 11/15/2018 06:01 AM