Tower Health Buys Premier Urgent Care Centers
POTTSTOWN PA – Tower Health, the Reading PA-based non-profit health care provider that owns Pottstown Hospital and Phoenixville Hospital, said Tuesday (Oct. 2, 2018) it would further expand its holdings and buy 19 Premier Urgent Care facilities located across southeastern Pennsylvania and Delaware. The price of the deal, which is expected to be completed later this fall, was not disclosed.
Of its 19 sites, Premier operates offices in Limerick, Oaks, and Lansdale. The company was founded in 2006.
Urgent care offices typically provide walk-in care to patients when their regular doctor is unavailable, or when they do not have a doctor. Forbes Magazine, in an article published this February, called it an $18 billion industry, and predicted it would grow 5.8 percent during 2018.
Tower said the acquisition would make it “the largest provider of urgent care services, based on weekly visits, in the Philadelphia region.” It did not specify the number of visits, and also did not indicate how many, if any, visits included those provided by its hospitals’ emergency rooms. Experts say emergency room services have traditionally been a default choice of urgent care providers by patients in financial need.
“Tower Health is committed to taking care of our communities, providing the most appropriate care in the right place, at the right time,” its President and CEO Clint Matthews said in a statement. “Our acquisition of Premier Urgent Care is a tremendous opportunity to quickly fill a need in our communities.”
He also indicated adding the Premier centers would improve patient access to Tower’s range of services. The company’s self-described “connected network of 2,000 physicians, specialists and providers” is spread across 65 locations.
The acquisition consists of what Tower called “an asset purchase agreement.” Financial advisors suggest that gives the company greater flexibility in buying only those assets it wants or negotiates for, such as equipment and real estate, and allows it to exclude items it finds undesirable or unnecessary.
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