Kain Capital Announces Follow-On Investment in MY DR NOW Bringing Total Funding to $60 Million

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Jan 24, 2024, 15:01 ET

Value-based care investor's additional investment to support the continued growth of the Arizona-based provider

NEW YORK, Jan. 24, 2024 /PRNewswire/ -- Kain Capital LLC, a leading private equity firm focused on the technology enablement of healthcare services companies, today announced that it has exercised a follow-on investment in MY DR NOW, a leading provider of primary and specialty care with multiple locations in Arizona. Total investment to date is $60 million.

The additional funding will support the continued growth of MY DR NOW as it pursues its mission to provide convenient, affordable, and high-quality care to underserved populations in Arizona. Since Kain's initial investment in August 2022, MY DR NOW has increased its operations from nine sites to 18 sites and has plans for significant future expansion within the state.

"With this additional investment, more people in the greater Phoenix area will benefit from ready access to affordable healthcare," said Dr. Payam Zamani Founder and CEO of MY DR NOW.

MY DR NOW is a comprehensive, value-based, integrated primary and specialty care platform that offers an omni-channel approach to care delivery via convenient retail-based clinics, mobile house calls and virtual visits. All MY DR NOW services, including primary care, mental health and specialty services, are available with extended hours on a scheduled or on-demand basis seven days a week, including holidays.

"Kain Capital is excited about the growth, execution, and evolution of MY DR NOW, and our new investment will help accelerate its ability to make affordable, convenient, high-quality care even more accessible in Arizona through its innovative care model," said Steven Yecies, Managing Partner at Kain Capital.

About Kain Capital LLC
Kain Capital is a private equity firm focused on investments in healthcare services and information technology companies. The firm partners with founders and entrepreneurs seeking additional capital, technology capability and resources to enhance and grow their existing services. Kain Capital does not utilize debt in its investments so that capital can be focused on maximizing growth and the quality of services to patients. More information about Kain Capital can be found at www.kaincap.com

About MY DR NOW
Founded by Dr. Payam Zamani, MY DR NOW is Arizona's largest privately owned primary care group, offering a variety of services to patients of all ages, including primary care, urgent care and more, with offices open every day, including weekends and holidays. MY DR NOW offers in-person care in neighborhood locations convenient to where people work, shop and live, as well as video visit services and mobile doctor services. For more information, visit www.MYDRNOW.com

Contact:

Lambert
Joanne Lessner, [email protected], 212-222-7436
Caroline Luz, [email protected], 203-570-6462

Kain Capital
Harry Zirinsky, Head of Business Development
[email protected]

SOURCE Kain Capital LLC