Urgent Care for Kids Raises $6.35 Million in Series A Funding from Kayne NewRoad Ventures Fund II and Dozier Capital Partners, LLC
This round of financing will be used primarily for new clinics and launching a pediatric telemedicine platform.
Dallas-Fort-Worth, TX – Urgent Care for Kids, the premier pediatric urgent care provider in Texas and one of the top companies in this specialized field in the United States, today announced its $6.35-million round of Series A financing. The round is co-led by Kayne NewRoad Ventures Fund II (KNRV) and Dozier Capital Partners.
The funding will enable Urgent Care for Kids to expand upon its proven platform of delivering high quality pediatric care on an open schedule basis as well as introduce its pediatric specialized telemedicine platform. The company’s focus will be on opening new clinics across Texas, acquiring synergistic pediatric businesses, and investing in technology to allow the company to enhance the patient experience and scope of services.
“We focus on providing superior patient experiences through high quality, convenient, and affordable pediatric care.” said Kevin Pearce, Co-Founder and President of Urgent Care for Kids. “Our partnership with Kayne NewRoad Ventures Fund II (KNRV) and Dozier Capital Partners will allow Urgent Care for Kids to utilize its clinical knowledge supported by its over 60 pediatric providers to deliver a statewide pediatric care delivery model truly unique to the industry.” said Pearce.
The new facilities and technology will broaden the chain’s reach, extending beyond Texas’s main metropolitan areas. Funds have been designated for new sites across Texas including: Allen, Plano, Flower Mound, Mansfield, Sugarland, Cypress, Atascocita, Memorial, South Austin, and San Antonio. The first of the new sites was completed in Allen and opened its doors on November 15th, 2017.
The investment will place Steve Brooks, Partner with NewRoad Capital Partners and Bradley McBride, Managing Director with Dozier Capital Partners, on the company’s Board of Directors. Steve Brooks has led other healthcare investments for KNRV and Bradley McBride has spent his entire career investing in emerging growth businesses.
“We are thrilled to partner with the Urgent Care for Kids team to allow them to serve more communities in the Texas market. The company has successfully built a 10-clinic system that has proven its value to the communities it serves – they just need to serve more communities as we see the demand is there. Urgent Care for Kids focus on pediatrics, establishing the right location, and providing a seamless patient experience that is convenient and affordable gives it a strong advantage over other healthcare providers.” said Steve Brooks Partner with NewRoad Capital Partners.
“We are excited to partner with both KNRV and Urgent Care for Kids to continue building the premier pediatric focused urgent care provider in the market. Of particular interest, we look forward to leveraging technology to enable the most convenient and affordable delivery of pediatric care.” said Bradley McBride, Managing Director at Dozier Capital Partners.
Since the opening of its first two clinics in Dallas-Fort-Worth in December 2011, Urgent Care for Kids has been the premier pediatric urgent care provider in Texas. Due to the success of the company’s model in Dallas-Fort-Worth, Urgent Care for Kids introduced the concept to under-served markets in both Houston and Austin, where patients immediately embraced these much-needed clinics. There are currently ten clinics throughout these three markets, serving patients up to 21 years of age.
“This partnership will allow Urgent Care for Kids to continue meeting the demand for pediatric urgent care services as well as launch an innovative pediatric telemedicine platform. This change will continue to set us apart in the field of pediatric medicine,” said Brian White, Co-Founder and CEO of Urgent Care for Kids. “Healthcare is constantly changing, and Urgent Care for Kids will adapt alongside those changes to best serve our patients.” said White.
About Urgent Care for Kids™
Urgent Care for Kids was founded by Brian White and Kevin Pearce who both held leadership position at Cirrus Group (now HealthCap, LLC) a real estate development company specializing in the development and delivery of customized, state-of-the-art medical and healthcare related real estate properties. Urgent Care for Kids is the largest children’s urgent care group in the state of Texas. Urgent Care for Kids’ corporate philosophy is to provide every patient with the highest quality medical care and superior customer service at a time and location that is convenient to working parents. More information is available at urgentcarekids.com.
About Kayne NewRoad Ventures Fund II, L.P
Kayne NewRoad Ventures Fund II, L.P. is a joint venture between Kayne Anderson Capital Advisors, L.P. and NewRoad Capital Partners, LLC. The Fund was formed to create and target demand-driven businesses with strong management teams in targeted market niches with operational expertise and capital to achieve outsized growth. The fund focuses on markets including retail, consumer packaged goods, supply chain & logistics, consumer healthcare, environmental and US manufacturing. The fund is co-managed by Kayne Anderson Capital Advisors, L.P. and NewRoad Capital Partners, LLC.
Kayne Anderson Capital Advisors, L.P., founded in 1984, is a leading independent alternative investment management firm focused on niche investing in energy, infrastructure, real estate, middle market credit, and growth private equity. Kayne’s investment philosophy is to pursue niches, with an emphasis on cash flow, where our knowledge and sourcing advantages enable us to deliver above-average, risk-adjusted investment returns. Kayne manages approximately $24.5 billion (as of 11/30/17) in assets for institutional investors, family offices, high net worth and retail clients and employs over 300 professionals in eight offices across the United States.
NewRoad Capital Partners, LLC is a venture and growth equity firm focused on investing in technology-enabled businesses with an emphasis on retail, consumer packaged goods, supply chain, data, health & wellness, and US manufacturing. NewRoad is based in Bentonville, Arkansas, the epicenter of retail, supply-chain, and logistics and is currently investing out of its second fund.