Quilvest Capital Partners (“Quilvest”), a leading global private investment firm, is announced that it has made a substantial growth investment in UrgentMED, the premier independent network of urgent care clinics in Southern California. Quilvest is partnering with UrgentMED’s co-founders, Dr. Jacob Rastegar, Dr. Morris Kokhab, and Dr. Pejman Bolourian, who will each remain significant shareholders and will continue to lead the business going forward. The financial terms of the transaction were not disclosed.
Founded in 2007 and headquartered in West Hollywood, California, UrgentMED operates 35 urgent care clinics in the Southern California region, including Los Angeles County, Orange County and Ventura County.
“We are thrilled to partner with Drs. Rastegar, Kokhab and Bolourian,” said Jay Takefman, Partner and Co-Head of Direct Private Equity at Quilvest. “UrgentMED has established itself as the leading independent urgent care network in Southern California and is ideally positioned to meet consumers’ and payors’ demands for convenient, affordable and high-quality care by deploying its broad healthcare offering across its clinic footprint. We look forward to joining UrgentMED on the next phase of its journey as the company continues its growth strategy,” he added.
Dr. Rastegar, Dr. Kokhab and Dr. Bolourian (co-founders and co-CEOs), stated: “We welcome the Quilvest team to the UrgentMED family. Quilvest is an ideal partner for us due to its deep understanding of multi-unit business models, healthcare sector expertise and vast network of resources to help us grow. We are excited to have a supportive partner who shares our vision.”
Benjamin Sass, Principal at Quilvest, added: “UrgentMED is an exceptional business led by an exceptional team. We look forward to helping UrgentMED accelerate its expansion strategy, while continuing to leverage UrgentMED’s patient-centric model and culture of care.”
Quilvest was advised by Piper Sandler and Dechert LLP. UrgentMED was advised by FocalPoint Securities LLC and Sheppard, Mullin, Richter & Hampton.