Urgent Team, a Nashville-based chain of urgent and family care facilities, brought in a new investor ahead of a new round of expansion.
The company has 21 facilities in Arkansas, Mississippi and Tennessee and plans to use the $35 million debt and equity investment from Crestline Investors to develop new facilities and make an acquisition. The developments will be in its joint venture with Baptist Health in Arkansas.
The company is looking at an acquisition in another state, said Amy Thomas, vice president of marketing and communications.
Urgent care clinics are increasingly an option for people needing treatment for illness or injury who can’t get in to see a primary care physician, yet don’t require the services of an emergency room.
“Urgent care centers not only help keep health care costs down for families and allow emergency departments to remain dedicated to patients who have the most critical health needs, but also provide an option for a delayed primary care appointment,” said Tom Dent, chairman and CEO of Urgent Team, in a statement.
Crestline, based in Fort Worth, Texas, joins existing investors including Petra Capital Partners, SV Life Sciences and River Cities Capital Funds.
The Urgent Team footprint includes a dozen facilities under the Urgent Team brand; seven under the Sherwood Urgent Care brand in Arkansas and two under Baptist Health Urgent Care in Arkansas.