The partnership with vybe care centers will also create a new clinical rotation in urgent care for PCOM medical students.
Philadelphia College of Osteopathic Medicine (PCOM) today announced that it is a co-lead investor in vybe Urgent Care, along with NewSpring Health Capital, the dedicated healthcare fund of NewSpring. Funds from the investment will enable vybe to expand its geographic footprint and service offering.
The arrangement between PCOM and vybe Urgent Care will also provide a unique educational and training opportunity for the College’s fourth-year osteopathic medical students and second-year physician assistant studies students as part of a new, elective clinical rotation in urgent care.
The company's urgent care centers in Roxborough, Port Richmond, Center City and South Philadelphia diagnose and treat a wide variety of illnesses and injuries, in addition to providing on-site x-rays, lab work and other medical services.
“As patient care continues to evolve, urgent care is becoming a larger part of the healthcare delivery system,” said Jay S. Feldstein, DO ’81, president and CEO of PCOM. “Through a clinical affiliation agreement with vybe, we can expand the training prospects for our students, allowing them to interact with diverse patient populations so that they can ultimately become competent, caring healthcare providers.”
Dr. Feldstein added that PCOM’s investment is also meant to ensure greater continuity of care, as patients who are initially seen at a vybe location may be referred to primary care physicians in those communities.
“Recruiting and retaining a first-class team of providers will be a critical element in our success," said vybe CEO Peter Hotz. "We are excited about the chance to work with PCOM leadership to develop educational programs for physicians and other providers to better prepare them for today’s healthcare environment.”
According to NewSpring Partner Kapila Ratnam, PhD, "vybe’s defensible market position, coupled with a superior business model and experienced management team, well-positions the company to grow and exponentially expand its geographic footprint within the next three years.”
"In today’s market, urgent care is a more cost-effective and timely setting to provide care to patients versus the emergency room," Ratnam said.
As part of the investment, Dr. Feldstein along with Dr. Ratnam of NewSpring will join vybe’s board of directors.
vybe Urgent Care operates the leading network of walk-in urgent care centers in the greater Philadelphia region, with a focus on high-quality medical care and unparalleled patient service. The company’s vision is that everyone deserves great care, which is driving development across the region and a unique focus on patient experience. Urgent care is rapidly becoming the new way to be seen for many healthcare consumers. Frustrated with long waiting times to see a primary care physician and the high cost of emergency room visits, consumers appreciate the walk-in access and reasonable price points of urgent care centers. vybe provides a broad range of injury and illness treatments, physical exams, and occupational health and workers’ compensation treatments. For more information, visit www.vybe.care.
Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The firm manages approximately $1.7 billion across four distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Having invested in over 135 companies, NewSpring brings a wealth of knowledge, experience, and resources to take growing companies to the next level and beyond. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. To learn more, visit www.newspringcapital.com.
Founded in 1899, Philadelphia College of Osteopathic Medicine has trained thousands of highly competent, caring physicians, health practitioners and behavioral scientists who practice a “whole person” approach to care—treating people, not just symptoms. PCOM offers doctorate degrees in educational psychology, osteopathic medicine, pharmacy, physical therapy and psychology, and graduate degrees in aging and long-term care administration, biomedical sciences, forensic medicine, mental health counseling, organizational development and leadership, physician assistant studies and school psychology. Our students learn the importance of health promotion, education and service to the community and, through PCOM’s Healthcare Centers, provide care to medically underserved populations in inner-city and rural locations. For more information, visit pcom.edu.
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