Investment in innovative healthcare company follows ten years of partnership with Altamont Capital Partners
Plano, TX, November 25, 2024 – Intuitive Health (Intuitive), a pioneer of the hybrid freestanding emergency room and urgent care model, today announced that Great Hill Partners (“Great Hill”) has acquired a majority interest in the company from its previous investor, Altamont Capital Partners (“Altamont”).
Founded in 2008, Intuitive operates in-network, freestanding sites in convenient locations where patients can walk in to receive high quality urgent and emergency care. Unlike traditional emergency rooms (where patients often face long wait times and high bills even for relatively simple conditions) or urgent care centers (which cannot treat higher acuity issues), Intuitive’s sites offer short wait times and can treat a broad spectrum of patient acuity while only billing for the level of treatment required. The company’s operating model helps generate significant time and cost savings for both patients and payers. Today, Intuitive serves over 500,000 patients across the United States through 33 facilities.
“As we embark on this next chapter with a prominent growth-oriented investor like Great Hill, we are excited and energized for the future ahead as we continue to transform the emergency and urgent care experience and deliver even greater value to patients nationwide,” said Intuitive Chief Executive Officer Thom Herrmann. “After a decade of successful collaboration, we deeply appreciate the Altamont team’s partnership and expertise during a period of significant growth for our company.”
“In an increasingly complicated and expensive healthcare ecosystem, Intuitive’s ability to simplify and improve the patient experience while reducing unnecessary spend has positioned them at the forefront of the industry,” said Craig Byrnes, a Managing Director at Great Hill. “We look forward to partnering with the Intuitive team and leveraging our deep industry expertise and resources to help the company expand and ensure more patients have access to its high-quality services.”
Altamont began its partnership with Intuitive in 2014 to support the company’s goal to expand operations nationwide. During that time, Altamont helped Intuitive scale from two clinics to 33 today. Additionally, Altamont helped Intuitive broaden its addressable market through an innovative health system partnership strategy, enabling expansion throughout the United States.
“We’re proud of our partnership with Intuitive, supporting their work to transform healthcare delivery with this innovative model that uniquely meets the needs of patients, health systems, and payors,” said Casey Lynch of Altamont. “We’d like to thank all Intuitive employees for their unwavering commitment to providing outstanding patient care.”
In connection with the transaction, Craig Byrnes, Mark Taber, a Managing Director at Great Hill, and Veda Eswarappa, a Vice President at Great Hill, will join Intuitive Health’s Board of Directors.
William Blair was the lead financial advisor to Intuitive and Guggenheim Securities, LLC was co-advisor. Cain Brothers served as an additional advisor. Leerink Partners served as financial advisor to Great Hill. Ropes & Gray LLP and Morrison Foerster LLP served as legal counsel to the company and Goodwin served as legal counsel to Great Hill. Financial terms of the transaction were not disclosed.
About Intuitive Health
Founded in 2008, Intuitive Health pioneered the combined emergency room and urgent care model. Intuitive Health partners with established health systems nationwide to build, operate and launch retail healthcare facilities that provide urgent care and emergency room services under one roof. Intuitive Health partners with leading health systems nationwide, including in Arizona, Delaware, Florida, Kentucky, Indiana, New Mexico, Ohio, Oklahoma, South Carolina, Texas, Virginia and Washington. Intuitive’s patient-centric approach to immediate care has saved payors and patients hundreds of millions in unnecessary emergency care spending. In addition, the Intuitive Health model increases market share for partnered healthcare systems by expanding their footprint with conveniently located centers. For more information, please visit IHERUC.com.
About Great Hill Partners
Founded in 1998, Great Hill Partners is a private equity firm targeting investments of $100 million to $500 million in high-growth companies across the software, digital commerce, financial technology, healthcare, and digital infrastructure sectors. With offices in Boston and London, Great Hill has raised over $12 billion of commitments and invested in more than 100 companies, establishing an extensive track record of building long-term partnerships with entrepreneurs and providing flexible resources to help middle-market companies scale. Great Hill has been recognized for its industry leadership, being ranked in the top of five of HEC Paris-Dow Jones’ Mid-Market Buyout and Performance Ranking lists from 2021-2023. For more information, including a list of all Great Hill investments, visit www.greathillpartners.com.
About Altamont Capital Partners
Altamont Capital Partners is a private investment firm based in the San Francisco Bay Area with over $4 billion in assets under management. Altamont is focused on investing in middle market businesses where it can partner with leading management teams to help its portfolio companies reach their full potential. The firm’s principals have significant experience building business success stories across a range of industries, including multi-unit consumer, industrials, financial services and business services. For more information, visit www.altamontcapital.com.
Media Contacts
For Intuitive:
David Mangan
[email protected]
For Great Hill: FGS Global
[email protected]