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General Atlantic and Sequoia invest in MedExpress

MedExpress Urgent Care, a provider of care to people seeking non-emergency medical treatment, has received an investment from growth equity firms General Atlantic and Sequoia Capital.

Financial details of the transaction are not being disclosed.
 
"This partnership with General Atlantic and Sequoia comes at a very important time for our company," says Frank Alderman, co-founder and chief executive of MedExpress. “Both firms bring a deep knowledge and understanding of the healthcare industry and offer unrivaled global resources and capabilities that will prove invaluable as we expand our national footprint, scale our operations, and continue to provide the highest quality care to all of our patients."
 
Founded in West Virginia in 2001, MedExpress targets two of the largest problems facing the US healthcare system: access and affordability.
 
"MedExpress offers patients increased convenience and payors significant savings, all without any sacrifice in quality" says Jonathan Korngold (pictured), managing director at General Atlantic and head of the firm’s healthcare sector. "Given the current capacity constraints in the healthcare delivery system, and the expected increase in demand on the system coming out of healthcare reform, we believe that MedExpress is well positioned to enjoy substantial growth in the coming years. We are thrilled to partner with Dr. Alderman and the MedExpress team to support that growth.”

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