HOUSTON--(BUSINESS WIRE)--Stellus Capital Management, LLC (“Stellus”) announced today that its affiliates partnered with City National Bank to provide senior debt financing in support of Intuitive Health (“Intuitive” or the “Company”), a portfolio company of Altamont Capital Partners (“Altamont”), on its acquisition of Premier ER & Urgent Care (“Premier”), a Texas-based hybrid emergency room (ER) and urgent care (UC) clinic with four locations in San Marcos, Temple, Waco, and Woodway, Texas.
The acquisition of Premier is Intuitive's second acquisition since 2015. This partnership continues Intuitive's hybrid ER and urgent care strategy that provides one convenient consumer health-based location for both emergency and urgent care services and eliminates the guesswork for patients unsure of where to go for care. Intuitive Health will now operate 25 hybrid emergency and urgent care locations. The unique care model creates cost-effective ways for patients to receive unscheduled care. Beyond its home state of Texas, Intuitive has a growing network of sites outside of Texas in collaboration with health system partners to extend its differentiated care delivery model to patients nationwide.
“Premier is a strong strategic fit for the Intuitive platform, expanding our facility footprint in Texas to capitalize on healthcare trends which support continued strong growth for hybrid ER and UC providers. We appreciate Stellus’ ability to provide a flexible financing structure and their continued support of Intuitive,” said Casey Lynch, Managing Director at Altamont.
Adam Pollock, Managing Director at Stellus, added, “We are excited to continue supporting Altamont and Intuitive’s ongoing initiatives to build a national hybrid ER/UC platform. The Premier acquisition fits well with this overall strategy and overall service delivery model.”
About Stellus Capital Management
Stellus was founded in 2012 and formed in conjunction with the spin-out of the Direct Capital Unit of the D. E. Shaw group. Stellus’ senior team helped create the Direct Capital Unit in 2004 and has been investing together in the middle market for 18 years. Since 2004, the Stellus team has deployed over $8 billion into more than 350 middle market companies, developing a broad and deep expertise in this segment of the private investing market. Stellus currently has approximately $2.6 billion in assets under management, with offices in Houston, TX, the Washington, D.C. area, and Charlotte, NC. Learn more at stelluscapital.com.
