A joint venture between CareSpot Express and HCA Holdings' TriStar Health Systems division has acquired fellow urgent-care center operator NeighborMD for an undisclosed amount.
The acquisition, which was first reported by The Tennessean, gives CareSpot and TriStar seven local clinics. The venture plans to open three more this year, which would still put it behind the development pace its partners envisioned when they announced their collaboration last summer.
NeighborMD was launched more than two years ago by former O'Charley's CEO Greg Burns and had opened clinics in Brentwood, Green Hills, Hendersonville, Hermitage and Lebanon. Its plans had called for the opening of 14 clinics by 2015, but Burns told The Tennessean the market is getting too saturated to continue to go it alone.
"With the placement of our headquarters here over a year ago, we have always had plans to develop the Nashville market," CareSpot CEO Mike Klein said in a statement. "We found [NeighborMD's] current center locations to be very complementary to our own plans and scope of services; NeighborMD also has a great reputation, so it became a natural fit for the type of convenient, high-quality healthcare we deliver."
CareSpot, which relocated its headquarters to Maryland Farms last year, was founded as Solantic by former HCA/Columbia boss Rick Scott and built out a network of stores in Florida before expanding across the Southeast and into the Midwest. Klein, the former CEO of Renal Advantage, took over CareSpot in the spring of 2011.