Westcove

Westcove Advises Heart and Vascular Care in its Partnership with Cardiovascular Associates of America

LOS ANGELES, CA – March 22, 2021 – Westcove Partners (“Westcove”), a leading healthcare investment bank, announced that it acted as the exclusive investment banking advisor in the acquisition of Urgent Care Plus (“UCP” or “the Company”) by Carbon Health (“Carbon”). UCP, a leading urgent and primary care provider based in Long Beach, California, grew to become one of the of largest providers in the fast-growing Long Beach marketplace. The terms of the transaction, which closed on March 22, 2021, were not disclosed. Westcove’s deal team included Justin Hand, Managing Director, and Shan Chawla, Associate.

Urgent Care Plus was established to provide the Long Beach area with a better choice to meet healthcare needs and deliver immediate medical care in the case of emergencies. The Company aims to be the preferred medical care provider for the Long Beach Area and maintains a staff that is made up of experienced, licensed medical assistants and x-ray technicians who assist the physicians in providing care.

Carbon Health, a tech-enabled, venture-backed healthcare company that delivers urgent care, primary care, mental health, women’s health, and LGBTQ health care, coupled with virtual care capabilities sought the UCP acquisition as its first location in the Long Beach area. Carbon, headquartered in San Francisco, California, currently operates clinics across 10 states, and has over 40 locations in California alone (including UCP).

Dr. Roy, owner of UCP, stated the following, “I am thrilled to have worked with the team at Westcove and Carbon Health to smoothly transition out of Urgent Care Plus, a Company I have dedicated immense time and effort to for the last 10 years. Westcove provided tremendous support, insight and expertise as I went through this significant milestone in my life and I am confident that Carbon Health will continue the excellent care and services my staff and I provided the Long Beach area well into the future.”

Shan Chawla, comments, “Westcove was thrilled to advise Dr. Roy, Founder of UCP, on the sale of the Company to Carbon Health. Carbon Health’s significant interest in the Company serves as a testament to what the UCP team has created over the last 10 years. We strongly believe that Carbon Health will continue the tradition of providing robust primary and emergent care through Urgent Care Plus to the Long Beach area.”

About Urgent Care Plus

UCP provides comprehensive primary and emergent care, digital x-ray services, EKG’s, wellness exams, vitamin B-12 injections, urinalysis, vaccinations, suturing/laceration repair and other medical treatments. The Company established itself as one of the premier medical care providers for all primary and urgent care needs in the Greater Long Beach Area.

About Cardiovascular Associates of America

Headquartered in Orlando, Florida, Cardiovascular Associates of America aims to bring the best cardiovascular physicians into one network with the common mission of saving lives, reducing costs, and improving patient care through clinical innovation. Through CVAUSA’s physician-centered practice management model, physicians drive clinical care and their practice culture, while benefiting from the business expertise and shared resources available through CVAUSA. For more information, please visit www.cvausa.com.

About Carbon Health

Carbon Health is a modern, tech-enabled healthcare company transforming the primary care, urgent care, and virtual care experience. With a team of expert physicians, engineers, and designers, Carbon Health pushes the boundaries of medicine to deliver personal, accessible and high-quality care. Carbon aims to give patients connection to their medical records, quick access for immediate and ongoing healthcare needs, and a network of healthcare experts. With a growing network of trusted clinics, and an end-to-end platform that supports ongoing care management and virtual appointments, Carbon Health ensures world-class care is affordable and always in reach.

About Westcove Partners
Westcove Partners is a leading healthcare-focused investment bank that specializes in advising its clients through mergers & acquisitions, debt and equity financing, as well as other complex corporate finance transactions. The team focuses on founder-operated businesses and seeks to curate its advisory services according to the intricacies that come with these types of businesses.
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