NeighborMD Advances Growth Strategy with Green Hills, Hendersonville Sites
Announces Series A Funding from Tennessee Angel Fund/Nashville Capital Network
NASHVILLE, TN – Tennessee Angel Fund (TAF), a syndicate of Nashville Capital Network (NCN) angels, and existing investors have completed a $2.5 million investment in NeighborMD Management, LLC, an emerging Nashville-based operator of neighborhood urgent care centers.
The capital investment from TAF/NCN will help fuel a strategic growth plan by NeighborMD to open 23 urgent care centers in Middle Tennessee by 2015, said Gregory Burns, NeighborMD chief executive officer. The company, which was formed in 2010 and opened centers in Hermitage and Brentwood last year, is announcing its third and fourth locations.
– 2001 Glen Echo Road in Green Hills. NeighborMD acquired the Green Hills Medical Center from Barry Yarbrough, M.D., who has joined the company as chief medical officer.
– 280 Indian Lake Blvd., in the Streets of Indian Lake Shopping Center in Hendersonville. Construction on the new center will begin later this month and is expected to open later this spring.
Burns said, “Our vision and goal is to be the trusted brand in the greater Middle Tennessee market through a more professional, retail-oriented approach to urgent care operations. We appreciate the investment support and confidence of the TAF and NCN angel investors. NCN and its advisors worked closely with us in researching and understanding this emerging urgent care market and the opportunity to grow in Middle Tennessee and beyond.”
“Our partners are extremely impressed by the experience and vision of the NeighborMD management team,” said Sid Chambless, executive director of NCN and managing partner of TAF. “Urgent care is a growing market with the demand for episodic health services increasing as the number of emergency departments in the US decreases.”
“We believe this team has a unique approach to urgent care delivery, combining experience in retail, real estate, and health care, “Chambless said. “NeighborMD centers are the highest quality in terms of patient satisfaction. They are modern, clean, and very well run. The team’s ability to identify the best locations is illustrated in the successful launch of the Hermitage and Brentwood locations. With the acquisition of Green Hills Medical Center and a new center in Hendersonville, NeighborMD is better positioned to serve the growing health care needs of the Nashville market.”
NeighborMD urgent care centers provide health care services for patients with urgent but non-life threatening illnesses and injuries, and provide a convenient option when patients cannot get an appointment with their regular physician. Clinics are open seven days a week and each is staffed by a physician. Conveniences include walk-in service, limited wait times and on-site X-ray and diagnostic laboratory services.
Green Hills Medical Center typifies the walk-in urgent care center model NeighborMD will pursue in expanding the company’s clinic portfolio, Burns said. Located in a densely populated neighborhood, the clinic is visible and easy to access by nearby residents and is a better option than a hospital-based emergency room farther away.
“Our mission at NeighborMD is to provide exceptional, compassionate healthcare services for non-life threatening situations. Our patient-friendly facilities offer walk-in services with minimal wait times delivered by professional, attentive associates and physicians. Our centers are conveniently accessible with extended hours, seven days a week,” said Burns.
NeighborMD is an urgent care company focused on delivering neighborhood-based delivery of episodic health care services emphasizing comfort, convenience and satisfaction for our patients.
The company is led by a Nashville-based team of entrepreneurs and health care professionals, including Gregory Burns, chief executive officer; Les Coble, chief operating officer; Peter Rossell, chief financial officer; and Barry Yarbrough, M.D., chief medical officer. Philip Hertik, the former CEO of Windsor Health Group, and Jim Baker, formerly the co-founder and President of Teleion Capital, LLC are members of NeighborMD’s board of directors.
About Nashville Capital Network and Tennessee Angel Fund
Nashville Capital Network accelerates the development of early stage companies by nurturing the most promising entrepreneurs and connecting them with knowledgeable, experienced investors. The NCN Angel Group is Tennessee’s leading angel investor group.