Vybe Urgent Care Clinics, a Philadelphia-based chain of four health care centers, plans to expand its footprint following an investment into the company led by Radnor-based NewSpring Capital and the Philadelphia College of Osteopathic Medicine (PCOM).
“We hope to get to 15 new centers by the end of next year,” said Vybe CEO Peter Hotz. Formerly known as On-Demand Urgent Care, Vybe was founded in 2015 by Hotz, a health-care entrepreneur who previously was a Walgreens Group vice president and served as the president of Take Care Health Systems. “The company’s name refers to the feeling you get as soon as you walk in the door,” Hotz said. “It’s supposed to summon the positive patient experience we’re going for.”
The amount of the investment was not disclosed.
As part of the transaction, Kapila Ratnam, partner at NewSpring, and Jay S. Feldstein, president of PCOM, will join Vybe’s board of directors. PCOM will work to develop educational programs for physicians and the agreement will provide opportunities for the school’s students to train at Vybe’s centers.
“As patient care continues to evolve, urgent care is becoming a larger part of the health care delivery system,” said PCOM’s Feldstein in a statement. “Through a clinical affiliation agreement, we can expand the training prospects for our students, allowing them to interact with diverse patients populations.”
Vybe currently operates in Center City, South Philadelphia, Port Richmond, and Roxborough. NewSpring manages about $1.7 billion in assets, according to its website. About 2,500 students attend PCOM at its City Line Avenue campus. The school is opening another location in southern Georgia next year.