Goldman Sachs Alternatives Completes Acquisition of Xpress Wellness from Latticework Capital Management
2024年5月24日 - 2:10AM
ビジネスワイヤ(英語)
Today, Latticework Capital Management (“LCM”) and Goldman Sachs
Alternatives (“Goldman Sachs”) jointly announced Goldman Sachs’
acquisition of Xpress Wellness, LLC (“Xpress” or the “Company”), an
affiliate of providers of urgent care and other healthcare services
to rural communities. Terms of the transaction were not
disclosed.
Xpress Wellness is affiliated with a physician-led rural
healthcare platform that provides a range of high-quality,
affordable, and convenient healthcare services to medically
underserved communities and residents of nursing homes across
Oklahoma, Kansas, and Texas. This transaction and its associated
investment positions Xpress to accelerate the already strong growth
of its footprint by expanding urgent care services to more
underserved communities. The Company will utilize the global
network and resources of Goldman Sachs to further the development
of new and existing markets, and to build out additional, adjacent
healthcare services.
“Our mission has always been to deliver the highest quality
medical care to those most in need. We are proud of what we’ve
accomplished working with the Latticework team, and we are excited
to partner with Goldman Sachs to accelerate our next phase of
growth,” said Grant Asay, CEO of Xpress. “This affirms our
reputation as an industry-leading provider while enabling us to
enhance our services and deliver them to populations in need.”
“Latticework is proud of our partnership with the Xpress team
and their efforts to expand access to critical healthcare services
in underserved rural markets. Under our ownership, the Company
opened 30 de novos and executed on closing seven acquisitions,
expanding Xpress’ geographic footprint, care delivery settings and
service line offerings,” said Kyle Bradford, Managing Partner of
Latticework. “We’re confident Xpress is well-positioned for
meaningful, scalable, sustained growth, and wish them continued
success moving forward.”
Since partnering with Latticework in 2018, Xpress has grown its
total number of clinics from ten (nine in Oklahoma, one in Kansas)
to 58 (28 in Oklahoma, 11 in Kansas and 19 in Texas), created more
than 600 jobs in the rural communities it serves, and expanded
service offerings to include behavioral health talk therapy and
other services. Xpress now provides medical services to residents
of 85 post-acute nursing home facilities.
“We look forward to partnering with the Xpress management team
to continue to drive growth in existing and new geographic markets,
bringing high-quality urgent care and select specialty services to
underserved communities. We believe that Xpress has a
differentiated model for serving rural communities, including
having many clinics that are certified by CMS under the Rural
Health Clinic (RHC) program and a team of dedicated clinicians,”
said Greg Shell, Head of Inclusive Growth at Goldman Sachs
Alternatives.
Houlihan Lokey served as the exclusive financial advisor and
McGuireWoods LLP served as legal counsel for Xpress. Latham &
Watkins served as legal counsel for Goldman Sachs.
About Sustainable Investing at Goldman Sachs
Alternatives
Goldman Sachs (NYSE: GS) is one of the leading investors in
alternatives globally, with over $450 billion in assets and more
than 30 years of experience. The business invests in the full
spectrum of alternatives including private equity, growth equity,
private credit, real estate, infrastructure, hedge funds and
sustainability. Clients access these solutions through direct
strategies, customized partnerships, and open-architecture
programs.
The business is driven by a focus on partnership and shared
success with its clients, seeking to deliver long-term investment
performance drawing on its global network and deep expertise across
industries and markets.
The alternative investments platform is part of Goldman Sachs
Asset Management, which delivers investment and advisory services
across public and private markets for the world’s leading
institutions, financial advisors and individuals. Goldman Sachs has
over $2.8 trillion in assets under supervision globally as of March
31, 2024.
About Xpress Wellness Urgent Care
Xpress Wellness, along with its subsidiary, Integrity Urgent
Care, provides healthcare services to rural and underserved
communities across Oklahoma, Kansas, and Texas. The Company’s
multi-specialty model is primarily focused on urgent care and
additionally provides employer and workers’ compensation services,
behavioral health counseling, primary care, and facility-based
services.
The Company is committed to providing accessible and
comprehensive healthcare services to rural and underserved
communities, and currently operates 58 clinics, 39 of which are
certified Rural Health Clinics. For more information about Xpress
Wellness, visit www.xpwell.com.
About Latticework Capital Management
Headquartered in Dallas, TX, with an office in Denver, CO,
Latticework is a growth oriented private equity firm focused
exclusively on making control equity investments in the healthcare
industry. LCM has completed more than 130 transactions across a
diverse array of healthcare subsectors and currently has more than
$550 million in assets under management. LCM leverages its more
than 100 combined years of healthcare and investing experience, as
well as its network of industry executives, to help companies grow
and realize their full long-term value. For more information,
please visit www.latticeworkcapital.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240523592775/en/
For Goldman Sachs Asset Management Victoria Zarella (212)
902-5400 victoria.zarella@gs.com
For Latticework Capital Management Jeremy Milner BackBay
Communications jeremy.milner@backbaycommunications.com (401)
862-9422
For Xpress Wellness Kerstin Olson k.olson@xpwell.com