Merritt Healthcare Advisors (“Merritt”) is pleased to announce the purchase of BetterMed Urgent Care by HCA Healthcare. The deal includes all 12 of BetterMed’s urgent care centers. The company has eight clinics in Richmond Region of Virginia, which are located in Short Pump, Regency Square, Willow Lawn, Mechanicsville, Ashland, Chester, Colonial Heights and Midlothian. It also has two clinics in the Fredericksburg area and two in North Carolina. Merritt principals served as the exclusive advisor to BetterMed.
Matt Searles, Managing Partner of Merritt Healthcare Advisors stated, regarding the transaction, “Merritt is pleased to announce the transaction, which gives BetterMed more scale and resources to provide high-quality, convenient and affordable care to patients in existing regions and beyond.”
“For almost 10 years, BetterMed Urgent Care has served their communities with compassionate, high quality, efficient care,” said Tim McManus, HCA Healthcare Capital Division president. “The addition of these urgent care centers to our HCA Virginia Health System family will complement our already robust network and help us provide more access for our patients to receive care that is close to home.”
BetterMed CEO Mark Johnson stated, “While we remain very proud of the way BetterMed has served our neighborhoods and communities, we are confident that we have found a partner in HCA Healthcare that will bring the same robust commitment to our patients and teammate-employees with an even greater capacity for growing patient services across more locations.”
About Merritt Healthcare
Merritt Healthcare Advisors (“Merritt”) is focused exclusively on representing owners of surgical facilities and healthcare practices that are considering strategic options, whether it is selling an interest in their organization, creating a new partnership or growing through acquisition. Merritt is unique in that we are the only firm that combines an investment banking background* with actual “owners” experience that comes from developing and managing our own healthcare facilities. We have used this experience to successfully complete more than $5 billion in transactions on behalf of our Clients. As the industry’s leading Mergers and Acquisitions (“M&A”) firm, our proven process and extensive buyer network enables us to help our Clients realize the absolute best financial and non-financial outcomes. The Principals of Merritt acted in their capacity of licensed investment banking agents of Burch & Company, Inc., member FINRA/SIPC.
About BetterMed Urgent Care
Founded in 2012 by a group of Emergency Care providers, BetterMed Urgent Care is on a mission to provide compassionate and expert care in an urgent care environment. Our locations across Virginia and North Carolina offer affordable urgent care, TeleCare, testing, and corporate health solutions to patients of all ages and walks of life. BetterMed’s focus on delivering uncompromisingly better patient experiences, alongside its proven track record of launching new facilities and ancillary services have helped the Company become one of the most highly respected and valued urgent care providers in its’ market as evidenced by maintaining a 4.5 stars (out of 5) third-party verified patient ratings, as well as being voted the “Best Urgent Care in Richmond” according to the Richmond Times Dispatch.
About HCA Healthcare
Nashville-based HCA Healthcare is one of the nation’s leading providers of healthcare services comprising 182 hospitals and approximately 2,300 ambulatory sites of care, including surgery centers, freestanding ERs, urgent care centers, and physician clinics, in 20 states and the United Kingdom. With its founding in 1968, HCA Healthcare created a new model for hospital care in the United States, using combined resources to strengthen hospitals, deliver patient-focused care and improve the practice of medicine. HCA Healthcare has conducted a number of clinical studies, including one that demonstrated that full-term delivery is healthier than early elective delivery of babies and another that identified a clinical protocol that can reduce bloodstream infections in ICU patients by 44%. HCA Healthcare is a learning health system that uses its more than 35 million annual patient encounters to advance science, improve patient care and save lives.