NeighborMD completes $2.5M round, announces new centers

Tennessee Angel Fund, cadre of Nashville Capital Network investors join with others to complete funding round

Urgent care operator NeighborMD turned in a slew of news Tuesday afternoon that included new centers, a new officer and the close of a funding round.

Two new centers will be in Green Hills and in Hendersonville. The Green Hills location, which has previously housed the Green Hills Medical Center, was purchased from Dr. Barry Yarbrough, while construction is expected to begin on the Hendersonville site later this year. These will be the roughly one-year-old NeighborMD's third and fourth locations.

Following on this development is the news that Yarbrough has also joined the company as its new chief medical officer.

“Our vision and goal is to be the trusted brand in the greater Middle Tennessee market through a more professional, retail-oriented approach to urgent care operations," said CEO Greg Burns. "We appreciate the investment support and confidence of the TAF and NCN angel investors. NCN and its advisors worked closely with us in researching and understanding this emerging urgent care market and the opportunity to grow in Middle Tennessee and beyond.”

Lastly, the company closed its $2.5 million funding round which has previously been mentioned in local news. Joining in the round were a collection of investors from the Nashville Capital Network, its Tennessee Angel Fund, and some of the company's existing investors.

“Our partners are extremely impressed by the experience and vision of the NeighborMD management team,” said Sid Chambless, executive director of NCN and managing partner of TAF. “Urgent care is a growing market with the demand for episodic health services increasing as the number of emergency departments in the US decreases.”

According to the announcement, the funds will be used to fund strategic growth going forward. The company has said it hopes to have 23 urgent care centers in Middle Tennessee by 2015.