Spanos Barber Jesse & Co. Sells STAT Health to Warburg Pincus Backed CityMD
May 30, 2018 – Spanos Barber Jesse & Co. (“SBJ”) is pleased to share the closing of the previously announced sale of STAT Health (“STAT”) to CityMD, the leading urgent care provider in the New York metro area. SBJ partnered with Co-Founder and President Dr. Paolo Coppola to acquire STAT in May 2016.
“It has been an honor and privilege leading STAT Health over the last 13 years, and I would like to thank SBJ for their valuable support,” said Dr. Coppola.
Gus Spanos, Co-Founder and Managing Director at SBJ commented, “We have enjoyed partnering with Dr. Coppola and the entire STAT team. While this opportunity with CityMD and Warburg Pincus materialized sooner in our investment than we had anticipated, we were provided a compelling offer from our most logical acquirer.”
STAT centers will be rebranded as CityMD and will continue to provide the same prompt, patient-focused care for which the Company is known. The acquisition brings CityMD’s total centers to 100 in the New York metro area.
The original transaction press release can be found here: https://goo.gl/4HsGyP
ABOUT SPANOS BARBER JESSE & CO.
Spanos Barber Jesse & Co. (“SBJ”) is a private investment firm with over $250 million of committed capital with offices in the San Francisco Bay Area and Dallas. SBJ invests in lower middle-market consumer, business services and healthcare services companies. Additionally, SBJ has the flexibility to invest equity or debt in control or non-control situations to finance buyouts, recapitalizations, acquisitions and growth. Founded by a team of professionals with over 75 years of experience growing companies as investors, executives and advisors, SBJ draws on the operating experience and domain expertise of its team to support the strategic goals of its partner companies. For more information, please visit www.sbjcap.com.
ABOUT STAT HEALTH
STAT Health was founded in 2005 by Dr. Paolo Coppola and Dr. Marc Salzberg, both Board Certified in Emergency Medicine, who saw a need for a walk-in medical center that could respond in a timely and cost effective manner to both urgent care and routine medical care situations in a convenient and comfortable setting. More than a decade, twelve locations and 1 million patient visits later, STAT Health continues to offer a personalized, expert care alternative to the conventional hospital emergency room or medical clinic.