Orlando, Fl.-based Solantic has received $100 million in venture capital from a private equity firm to expand its chain of urgent care clinics. The new investor is New York-based Welsh, Carson, Anderson & Stowe, which has $16 billion of capital under its management.
Solantic, co-founded by Columbia/HCA founder Richard Scott and former news anchor Karen Bowling, will use the money to open more than 40 freestanding clinics by the end of 2009, as well as acquiring competing facilities. Solantic currently operates 13 urgent care clinics across Florida. It plans to open 12 locations this year, and 24 more locations over the next two years, many of which will be acquisitions of existing facilities.
Solantic hopes to distinguish itself by making urgent care as convenient as possible. The clinics work to get patients in and out of the door within an hour, display wait times on a screen in the lobby and give patients beepers if they want to leave the clinic while waiting for care.
To learn more about Solantic's plans:
- read this Jacksonville Business Journal article
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