Investment Summary

Warburg Pincus and Consonance Capital Partners Exits CityMD

On November 7, 2022, VillageMD invested in healthcare services company CityMD from Warburg Pincus and Consonance Capital Partners

Investment Highlights
  • This is VillageMD’s 10th transaction in the Healthcare Services sector.
  • This is VillageMD’s 11th transaction in the United States.
  • This is VillageMD’s 1st transaction in New York.

Investment Summary

Date 2022-11-07
Target CityMD
Sector Healthcare Services
Investor(s) VillageMD
Sellers(s) Warburg Pincus
Consonance Capital Partners
Deal Type Add-on Acquisition

Target

CityMD

New York, New York, United States
CityMD is an urgent care provider founded 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. CityMD was founded in 2010 and is based in New York City.

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Investor(S) 1

Investor

VillageMD

Chicago, Illinois, United States

Category Company
Founded 2013
Sector Healthcare Services
DESCRIPTION

VillageMD is a primary care–focused healthcare provider delivering value-based care through a network of clinics, physicians, and partnerships with hospitals and health systems. The company offers comprehensive primary care, coordinated care management, and home-based services, aiming to improve patient outcomes while reducing total healthcare costs. VillageMD was founded in 2013 and is based in Chicago, Illinois.


DEAL STATS #
Overall 11 of 12
Sector: Healthcare Services M&A 10 of 11
Type: Add-on Acquisition M&A Deals 9 of 10
State: New York M&A 1 of 1
Country: United States M&A 11 of 12
Year: 2022 M&A 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-07 Summit Health-CityMD

Novi, Michigan, United States

Summit Health-CityMD is a provider of primary and specialty care needs. Summit Health-CityMD was founded in 2004 and is based in Novi, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-03 Starling Physicians

Rocky Hill, Connecticut, United States

Starling Physicians is a physician-led multispecialty group, that delivers quality medical care to people of all ages. Starling works as a unified team to deliver personalized treatment with compassion and skill, resulting in better outcomes and a more enjoyable healthcare experience. Starling Physicians is based in Rocky Hill, Connecticut.

Buy -

Seller(S) 2

SELLER

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


DEAL STATS #
Overall 239 of 263
Sector: Healthcare Services M&A 14 of 14
Type: Add-on Acquisition M&A Deals 81 of 95
State: New York M&A 11 of 13
Country: United States M&A 134 of 148
Year: 2022 M&A 11 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-02 Ensign Natural Resources

Houston, Texas, United States

Ensign Natural Resources is an exploration and production company focused on acquiring, developing and producing U.S. unconventional resources. Ensign Natural Resources was founded in 2017 and is based in Houston, Texas. ​

Sell $3.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-12 Rivigo

Gurugram, India

Rivigo is a tech-enabled trucking company that offers full truckload, part truckload and online freight brokerage services to a range of industries, including fast-moving consumer goods, pharmaceuticals and automotive. Rivigo employs a driver-relay model, enabling it to offer lower transit times on long-haul routes. Rivigo was formed in 2014 and is based in Gurugram, India.

Sell -
SELLER

Consonance Capital Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 1.3B USD
Size Large
Type Sector Focused
DESCRIPTION

Consonance Capital Partners is a healthcare-focused private investment firm focused on both public and private equity investing. The Firm's private equity group targets growth equity, leveraged buyouts, and recapitalization transactions in lower middle-market companies with $25 to $500 million of revenue. Specific areas of interest include healthcare providers, mayors, distribution, medical devices, specialty pharmaceuticals, outsourced services, and healthcare IT. Consonance Capital Partners was formed in 2005 and is based in New York City.


DEAL STATS #
Overall 6 of 6
Sector: Healthcare Services M&A 5 of 5
Type: Add-on Acquisition M&A Deals 5 of 5
State: New York M&A 1 of 1
Country: United States M&A 6 of 6
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-15 Surrozen

South San Francisco, California, United States

Surrozen is a biotechnology company discovering and developing drug candidates to selectively modulate the Wnt pathway. Surrozen is developing tissue-specific antibodies designed to engage the body’s existing biological repair mechanisms with potential application across multiple disease areas, including diseases of the intestine, liver, retina, cornea, lung, kidney, cochlea, skin, pancreas, and central nervous system. Surrozen is based in South San Francisco, California.

Buy -