Divestiture • Healthcare Services

FastMed Urgent Care Acquires Tenet’s Urgent Care Platform

On December 18, 2020, FastMed Urgent Care acquired healthcare services company Tenet’s Urgent Care Platform from Tenet Health

Acquisition Context
  • This is FastMed Urgent Care’s 6th transaction in the Healthcare Services sector.
  • This is FastMed Urgent Care’s 6th transaction in the United States.
  • This is FastMed Urgent Care’s 2nd transaction in Texas.

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M&A Deal Summary

Date December 18, 2020
Target Tenet’s Urgent Care Platform
Sector Healthcare Services
Buyer(s) FastMed Urgent Care
Sellers(s) Tenet Health
Deal Type Divestiture

Target Company

Tenet’s Urgent Care Platform

Dallas, Texas, United States
Tenet’s Urgent Care Platform is well-established with a reputation for high-quality medical care that provides superior patient service and adherence to the highest clinical standards.
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Buyer Overview 1

Buyer

FastMed Urgent Care

Raleigh, North Carolina, United States

Category Company
Founded 2001
Sector Healthcare Services
DESCRIPTION

FastMed Urgent Care owns and operates 110 clinics in North Carolina providing a broad range of acute/episodic and preventive healthcare services 365 days per year. FastMed also provides workers' comp and other occupational health services at all of its clinics, and family medicine, sports medicine, and telemedicine services at select locations. FastMed has successfully treated nearly six million patients since opening its first clinic in 2005, and is the largest urgent care operator to be awarded the joint commission gold seal of approval for accreditation in healthcare quality and safety in ambulatory healthcare. FastMed Urgent Care was founded in 2001 and is based in Raleigh, North Carolina.


Deal Context for Buyer #
Overall 6 of 6
Sector: Healthcare Services 6 of 6
Type: Divestiture 1 of 1
State: Texas 2 of 2
Country: United States 6 of 6
Year: 2020 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-13 NextCare Holdings

Apache Junction, Arizona, United States

NextCare Holdings, Inc. is one of the nation’s largest providers of urgent care and occupational medical services, with an emphasis on customer service to ensure patients experience the highest level of care. NextCare Holdings operates 141 urgent care facilities in Arizona, Colorado, Kansas, Missouri, New Mexico, North Carolina, Oklahoma, Texas, Virginia, and Wyoming.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-19 MedPost Urgent Care - Clinics

Gilbert, Arizona, United States

MedPost Urgent Care Clinics includes California clinics, spanning Orange County, Palm Desert, and Paso Robles provide the best quality of healthcare to the communities they serve.

Sell -

Seller Profile 1

SELLER

Tenet Health

Dallas, Texas, United States

Category Company
Founded 1967
Sector Healthcare Services
Employees74,480
Revenue 20.7B USD (2024)
DESCRIPTION

Tenet Health is a provider of health care services company, through its subsidiaries operates 77 hospitals, 187 outpatient centers, and Conifer Health Solutions, a provider in business process solutions for health care providers serving more than 700 hospital and other clients nationwide. Tenet Health was founded in 1967 and is based in Dallas, Texas.


Deal Context for Seller #
Overall 10 of 11
Sector: Healthcare Services 10 of 11
Type: Divestiture 10 of 11
State: Texas 2 of 2
Country: United States 9 of 10
Year: 2020 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-04 Golden State Medicare Health Plan

Cypress, California, United States

Golden State Medicare Health Plan is a California-based company that provides value-based care delivery. Since 2010, Golden State has provided health care services through its HMO Medicare Advantage Plan to California residents. Today, Golden State serves approximately 9,800 members across six counties in Northern and Southern California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-05 Brookwood Baptist Health

Birmingham, Alabama, United States

Brookwood Baptist Health consists of five hospitals across Central Alabama with more than 1,700 beds, more than 70 primary and specialty care clinics. Brookwood Baptist Health was formed in 2015 and is based in Birmingham, Alabama.

Sell -