Houlihan Lokey Advises MD Now Urgent Care

Houlihan Lokey is pleased to announce that MD Now Urgent Care (MD Now), a portfolio company of Brentwood Associates (Brentwood), has been acquired by HCA Healthcare (NYSE:HCA). The transaction closed on December 29, 2021.

Founded in 2005, MD Now Urgent Care is the largest independent urgent care provider in Florida and offers a broad range of high quality medical care, including urgent care services, diagnostics and testing, workers’ compensation, and occupational medicine. The company provides an exceptional patient experience through its conveniently located clinics, physician-driven operating model, and ability to quickly deliver quality, cost-effective medical care in a consumer-friendly setting. MD Now currently operates 59 clinics throughout Florida, becoming an integral part of the communities it serves and developing a loyal patient base and exceptional reputation.

Founded in 1968, Nashville-based HCA Healthcare owns and operates 183 hospitals and approximately 2,000 ambulatory sites of care, including surgery centers, freestanding ERs, urgent care centers, and physician clinics. The company is one of the nation’s leading providers of urgent care, currently operating more than 170 clinics across 19 markets. HCA Florida Healthcare currently serves 6.4 million patients each year at more than 400 affiliated sites of care across Florida.

Brentwood Associates is a Los Angeles–based private equity investment firm with a 30+ year history of investing in middle-market growth-oriented consumer and business services companies. Since 1984, Brentwood’s dedicated private equity team has invested in over 50 portfolio companies with an aggregate transaction value of over $6 billion.

This transaction exemplifies Houlihan Lokey’s longstanding leadership in the urgent care sector, where Houlihan Lokey has advised on 10 transactions since 2012, including representing MD Now in its recapitalization by Brockway Moran & Partners and its recapitalization by Brentwood Associates in 2018. Houlihan Lokey’s Healthcare Group is among the largest dedicated healthcare investment banking groups in the country. In 2020, the group closed 22 transactions and was ranked the No. 1 M&A advisor for U.S. healthcare transactions under $1 billion by Refinitiv. Houlihan Lokey’s Healthcare Group has closed more than 300 M&A healthcare transactions since its inception.

Houlihan Lokey served as the exclusive financial advisor to Brentwood.