Edgemont Capital Partners has acted as exclusive financial advisor to WorkWell Medical Group on its investment and recapitaliaation by Salt Creek Capital. Terms of the deal have not been disclosed.
WorkWell Medical Group, founded in 2003 by Dr Sheilaja Mittal and Vikram Mittal, and headquartered in Salinas, California, offers patients and employers an in-house network of specialists, a multidisciplinary rehabilitation facility and a state-of-the-art mobile medical clinic, all providing a complete suite of healthcare services to improve healing time for employees, enabling them to return to work more quickly. The company owns and manages five medical clinics providing occupational medicine, workers compensation care and case management, as well as urgent care services throughout the central coast of California. The transaction closed on October 22, 2015. Luke J. Mitchell, managing director, and leader of the firm's efforts with office-based physician services groups, led the Edgemont engagement team, along with associate Vitaliy Marchenko.
The recapitalisation of WorkWell is Edgemont's seventh closed transaction on behalf of physician groups, clinics, and practice management companies.
“Through twelve years of dedication and tireless devotion to quality clinical care and patient satisfaction, WorkWell has earned its reputation throughout California and the Western US as being the go-to provider of walk-in medical services for patients and employers in central California,” says Mitchell. “WorkWell was seeking a financial partner to provide the experience, capital, and management expertise to support the company’s tremendous growth, including its plans to expand to other parts of California. Out of a comprehensive and highly competitive marketing process, Edgemont identified Salt Creek as an ideal partner for WorkWell.”
