|[June 17, 2014]
American CareSource Acquires Florida Urgent Care Clinics
DALLAS --(Business Wire)--
American CareSource Holdings (NASDAQ: ANCI), a leading national network
of ancillary health care providers and operator of urgent care centers,
announced today that it has entered into a definitive agreement to
acquire substantially all the assets of Bay Walk-In Clinic in Panama
City and Panama City Beach, Fla.
The acquisition includes two well-established clinics located at one of
the busiest intersections in Panama City and in the busy beachfront
community of Panama City Beach.
The locations are the first sites acquired in Florida since American
CareSource recently announced its move into the $14.5 billion Urgent
Care market. American CareSource previously acquired CorrectMed of
Atlanta, Ga., which includes urgent care centers in two prominent
Historically, Bay Walk-In Clinic has successfully marketed its centers,
which provide services ranging from pediatrics and routine family
medicine through minor emergency care, to a constituency of local
employers and tourists who frequent the area.
Bay Walk-In Clinic was founded in 1984 and has been solely owned by the
first non-physician operator in the State of Florida for the past eleven
years. The owner grew the clinics through concentrated marketing efforts
and the development of strong community ties, specifically ith local
business owners. The owner of Bay Walk-In Clinic was represented in the
transaction by Audientis, LLC, an Atlanta-based financial advisory firm.
"By acquiring the assets of Bay Walk-In Clinic, American CareSource
builds momentum for its move into the vibrant Urgent Care industry,"
said Dr. Richard W. Turner, the company's Chairman and CEO.
The definitive agreement is subject to certain customary standard
Since opening, the centers have developed a strong and loyal following
of patients, including the employees of local businesses who receive
occupational health care and tourists who need medical attention while
"We see opportunities to build upon both the clinical reputation and on
the marketing efforts of the previous owner and create an even stronger
market presence that results in patient volume growth," Dr. Turner said.
"We look forward to continuing and building upon Bay Walk-In Clinic's
tradition for high-quality, patient-centric health care coupled with its
About American CareSource Holdings, Inc.
American CareSource Holdings is the first national, publicly traded
ancillary care network services company. The company offers a
comprehensive national network of more than 4,800 ancillary service
providers at more than 33,300 sites through its subsidiary, Ancillary
Care Services. ACS (News - Alert) provides ancillary health care services through its
network that offers cost-effective adjunctive support that delivers
urgent and primary care through a network of free-standing centers as
well as its support of physician- and hospital-based services. These
providers offer services in 31 categories, including laboratories,
dialysis centers, free-standing diagnostic imaging centers, infusion
centers, long-term acute care centers, home health services and
non-hospital surgery centers, as well as durable medical equipment. The
company's ancillary network and management provide a complete outsourced
solution for a wide variety of health care payors and plan sponsors,
including self-insured employers, indemnity insurers, PPOs, HMOs,
third-party administrators and both federal and local governments. For
additional information, please visit www.anci-care.com.
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