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CityMD and Summit Medical Group Close Merger.

MANews-(C)2009-2019

14 August 2019 - New York metro area urgent care provider CityMD and independent multispecialty medical practice Summit Medical Group, have closed their merger, the companies said.

This is a first-of-its-kind merger between an urgent care provider and an independent physician-owned multispecialty medical group.

The combined organisation, which has more than 1,400 providers, over 6,400 employees, and nearly 200 locations in New Jersey and New York, will offer patients a seamless experience across a full spectrum of high-quality primary, specialty, and urgent care.

Warburg Pincus, a global private equity firm focused on growth investing, has supported CityMD since 2017 and will assume a majority interest in the combined company.

Consonance Capital Partners, a healthcare-focused private equity fund, is also making an investment in the combined company.

Terms of the transaction were not disclosed.

Country: USA

Sector: Healthcare

Target: Summit Medical Group

Buyer: CityMD

Vendor:

Deal size in USD:

Type: LBO

Financing:

Status: Closed

Buyer advisor: , ,

Comment: Warburg Pincus, a global private equity firm focused on growth investing, has supported CityMD since 2017 and will assume a majority interest in the combined company.

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Publication:M & A Navigator
Date:Aug 14, 2019
Words:186
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