Global private equity firm Warburg Pincus agreed to invest in New York City-based urgent care provider CityMD.
Here are four things to know.
1. CityMD sees more than one million patients annually and operates nearly 70 locations in New York, New Jersey and Washington state, according to a news release. The CityMD team includes more than 300 medical professionals and providers.
2. The investment from Warburg Pincus will go toward "accelerat[ing] CityMD's expansion through new site openings and strategic acquisitions and partnerships," the release states.
3. Commenting on the investment,CityMD President and CEO Richard Park, MD, said: "We're pleased to welcome Warburg Pincus as our exciting new investment partner that is well aligned with this mission. With our combined business objectives and their deep expertise in the healthcare sector, this partnership will enable CityMD to continue expanding as we strive to achieve our vision to build healthier communities by serving everyone."
4. The organizations did not reveal details of the transaction.