Spanos Barber Jesse & Co. Announces Investment in Stat Health Management
May 06, 2016
Walnut Creek, CA: Spanos Barber Jesse & Co. (“SBJ”), a private investment firm with offices in the San Francisco Bay Area and Dallas, announced today that it has completed an investment in and recapitalization of Stat Health Management, LLC (“Stat Health”), an urgent care company with locations throughout Long Island, NY. The investment was led by SBJ in partnership with, McLarty Capital and St. Cloud Capital. Terms of the transaction were not disclosed.
Stat Health provides management services to a chain of urgent care centers staffed by board certified emergency medicine physicians. The Company was founded in 2005 by Dr. Marc Salzberg and Dr. Paolo Coppola. Said Dr. Salzberg, “We evaluated numerous partnership opportunities over the past several years and are delighted to have selected SBJ to help us continue expanding Stat Health”.
According to Gus Spanos, SBJ’s co-founder and Managing Director, “SBJ is providing meaningful capital and strategic support to accelerate the continued expansion of Stat Health urgent care centers within the Company’s existing geographic regions in addition to selectively pursuing acquisitions of other urgent care operators. Our investment in Stat is the product of a longstanding proactive search for opportunities in the attractive urgent care space. We believe that Stat is one of the premier operators in the industry, and we look forward to collaborating with Drs. Coppola and Salzberg in the years ahead”. Mr. Spanos also said that the Company has plans already in the works for opening several new urgent care centers in Suffolk County, Long Island under the “Stat Health” brand that is trusted and well-known by patients.
Kevin Tom of St. Cloud Capital and Christopher Smith of McLarty Capital added, “Stat Health and the growing urgent care industry are on the right side of healthcare trends, with the nation grappling with its aging population and payors challenged with increasing ER costs.”
Dr. Coppola added, “We reached a point where we realized that we wanted an experienced capital partner to continue and accelerate the rapid expansion and growth we had achieved over the last several years. Dr. Salzberg and I believe the combination of our healthcare expertise with SBJ’s skill in building businesses will benefit patients, payors and the Stat Health organization as a whole.”Back to Press