PM PEDIATRIC CARE ANNOUNCES $50M INVESTMENT FROM SCOPIA CAPITAL AND JEFFERSON RIVER CAPITAL

News provided by

Jun 20, 2023, 09:07 ET

Leading National Pediatric Urgent Care & Behavioral Health Network Receives Funding to Further Its Mission in Revolutionizing the Delivery of Pediatric Care

LONG ISLAND, N.Y., June 20, 2023 /PRNewswire/ -- PM Pediatric Care, a nationally recognized leader in the delivery of pediatric care, announces $50M in Series E equity funding led by Scopia Capital, including Jefferson River Capital.

Funding from this series will be used to accelerate expansion of the company's world-class urgent care network; its newer service offerings, including its mental and behavioral health program for children and young adults; and its school health program. The company will also enhance its patient-centered infrastructure and explore additional pediatric service lines, including primary care, as it seeks to become a key component of value-based models of pediatric health care. PM Pediatric Care has treated over 6.5 million patients in 78 urgent care locations across the U.S., as well as thousands of mental and behavioral health patients. The company is widely recognized for its high-quality, evidence-based, and convenient healthcare services for children and young adults, offered both in-office and virtually.

"PM Pediatric Care continues to be poised for significant growth. We're proud to support the Company as it works to change how pediatric medicine is delivered in our country, making access to specialized physical and mental health care convenient and affordable," said Matthew Sirovich, Managing Partner of Scopia Capital.

PM Pediatric Care also announces the appointment of two new board members. Joining as non-executive Chair of the Board is healthcare industry veteran Helena Buonanno Foulkes. Foulkes is a seasoned CEO and former President of Retail at CVS. During her time at CVS, Foulkes helmed the company's groundbreaking ExtraCare loyalty program, improving prescription drug delivery at low costs. Also joining the board is Dr. Troy Brennan, an internal medicine physician and former Chief Medical Officer for both Aetna and CVS Health as well as Adjunct Professor of Health Policy at Harvard School of Public Health. Together, both Foulkes and Brennan bring decades of industry experience to PM Pediatric Care.

"We have never been more confident in the future of PM Pediatric Care," said Steve Katz, Co-Founder & Co-CEO of PM Pediatric Care. "Now more than ever, quality urgent care, behavioral health, and other outpatient services are crucial for the welfare of our children and young adults. We are committed to delivering on the growing needs of our communities and innovating to help keep our youth healthy."

For more information, please visit pmpediatriccare.com.

SOURCE PM Pediatric Care