Stellus Supports Intuitive’s Add-On Acquisition of PremierApr 25, 2023
Houston, TX – April 25, 2023 – Stellus Capital Management, LLC (“Stellus”) announced today that its affiliates partnered with City National Bank to provide senior debt financing in support of Intuitive Health (“Intuitive” or the “Company”), a portfolio company of Altamont Capital Partners (“Altamont”), on its acquisition of Premier ER & Urgent Care (“Premier”), a Texas-based hybrid emergency room (ER) and urgent care (UC) clinic with four locations in San Marcos, Temple, Waco, and Woodway, Texas.
The acquisition of Premier is Intuitive’s second acquisition since 2015. This partnership continues Intuitive’s hybrid ER and urgent care strategy that provides one convenient consumer health-based location for both emergency and urgent care services and eliminates the guesswork for patients unsure of where to go for care. Intuitive Health will now operate 25 hybrid emergency and urgent care locations. The unique care model creates cost-effective ways for patients to receive unscheduled care. Beyond its home state of Texas, Intuitive has a growing network of sites outside of Texas in collaboration with health system partners to extend its differentiated care delivery model to patients nationwide.
“Premier is a strong strategic fit for the Intuitive platform, expanding our facility footprint in Texas to capitalize on healthcare trends which support continued strong growth for hybrid ER and UC providers. We appreciate Stellus’ ability to provide a flexible financing structure and their continued support of Intuitive,” said Casey Lynch, Managing Director at Altamont.
Adam Pollock, Managing Director at Stellus, added, “We are excited to continue supporting Altamont and Intuitive’s ongoing initiatives to build a national hybrid ER/UC platform. The Premier acquisition fits well with this overall strategy and overall service delivery model.”
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